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Rapala VMC Oyj (HEL:RAP1V) Rapala VMC Corporation Stock Exchange Release October 22, 2008 at 11.00 am
The Board or Directors of Rapala VMC Corporation (Rapala) has on today decided to start buying back a maximum of 100 000 of Rapala's own shares, equaling to some 0.25% of all shares, in accordance with the authorization granted by the Annual General Meeting on April 3, 2008. 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 450 000 euro.
Shares will be acquired in public trading on the NASDAQ OMX 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 November 1, 2008 at the earliest and will end on December 31, 2008 at the latest. At the moment, Rapala holds 123 200 of its own shares.
Shares will be acquired in accordance with section 5 of the rules of NASDAQ OMX Helsinki and other rules applicable to the acquisition of own shares.
RAPALA VMC CORPORATION
Jorma Kasslin Chief Executive Officer
For further information, please contact: Jouni Grönroos, Chief Financial Officer, +358 9 7562 540 Olli Aho, Company Counsel, +358 9 7562 540
Distribution: NASDAQ OMX Helsinki and Main media
Rapala VMC Corporation is a leading fishing tackle company and the global market leader in the fishing lures, treble hooks and fishing related knives and tools. The Group also has a strong global position in other fishing categories. The Group has its own distribution companies in all the main markets and the largest distribution network in the industry. The main manufacturing facilities are located in Finland, France, Estonia, Russia and China. The Group brand portfolio includes the leading brand in the industry, Rapala, and other global brands like VMC, Storm, Blue Fox, Luhr Jensen, Williamson, Marttiini and Sufix. The Group, with net sales of EUR 242 million in 2007, employs more than 4 000 people in 30 countries.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
