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Rapala/VMC to buy back shares of corporation

 Feb 24th, 2016 by OutdoorsFIRST 

Modified Feb 24th, 2016 at 12:00 AM

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.