RAPALA VMC CORPORATION CONTINUES TO BUY BACK OWN SHARES
Rapala VMC Corporation
Stock Exchange Release
February 12, 2016 at 2:15 p.m.
RAPALA VMC CORPORATION CONTINUES TO BUY BACK OWN SHARES
The Board of Directors of Rapala VMC Corporation has decided to start buying back a maximum of 100 000 of Rapala VMC Corporation's own shares, equaling to some 0.25% of all shares, in accordance with the authorization granted by the Annual General Meeting on March 27, 2015. The shares will be acquired with company's free equity only, and therefore, the acquisition reduces the distributable funds. The maximum amount to be used for the acquisition is 500 000 euros.
Shares will be acquired in public trading on the Nasdaq Helsinki at the market price quoted at the time of repurchase in accordance with the rules regarding the acquisition of company's owns shares.
Shares will be repurchased to finance or carry out business acquisitions or other investments, to settle the company's equity-based incentive plans, to be transferred for other purposes, or to be cancelled.
The repurchasing of shares starts on February 15, 2016 at the earliest and will end on March 31, 2016, at the latest. At the moment, Rapala holds 639 671 of its own shares.
RAPALA VMC CORPORATION
Jorma Kasslin
Chief Executive Officer
For further information:
Olli Aho, Company Counsel and Investor Relations, tel. +358 9 7562 540
Distribution: Nasdaq Helsinki and main media
Rapala VMC Corporation ("the Group") is a leading fishing tackle company and the global market leader in fishing lures, treble hooks and fishing related knives and tools. The Group also has a strong global position in other fishing categories and it is one of the leading distributors of outdoor, hunting and winter sport products in the Nordic countries. The Group has the largest distribution network in the industry. The main manufacturing facilities are located in Finland, France, Estonia, Russia, China, Indonesia and the UK. The Group brand portfolio includes the leading brand in the industry, Rapala, and other global brands like VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson, Dynamite Baits, Mora Ice, StrikeMaster, Marttiini and Peltonen. The Group, with net sales of EUR 278 million in 2015, employs some 3 200 people in 39 countries. Rapala VMC Corporation's share is listed and traded on the Nasdaq Helsinki stock exchange since 1998.
Copyright GlobeNewswire
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Source: %s via Globenewswire
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