STOCK EXCHANGE RELEASE
April 3, 2008
The Annual General Meeting of Rapala VMC Corporation (Rapala)
unanimously adopted the financial statement of the financial year
2007 and granted release from personal liability for the Board of
Directors and the President for the financial year that ended on
December 31, 2007.
The proposal concerning the dividend, EUR 0.18 per share, was
approved. The dividend will be paid on April 15, 2008 to each of the
shareholders who on the record date of April 8, 2008 have been
entered in the list of shareholders kept by the Finnish Central
Securities Depository Ltd.
The meeting approved that there are seven members of the Board of
Directors. The re-elected members of the Board of Directors were
Jorma Kasslin, Eero Makkonen, Marc Speeckaert, Jan-Henrik Schauman,
Christophe Viellard, Emmanuel Viellard and William (King Ming) Ng.
The meeting resolved that the annual fee paid to each Board member is
EUR 30 000 and EUR 60 000 to the Chairman of the Board.
Ernst & Young Oy, Authorised Public Accountants, was appointed as
Rapala's auditor.
In accordance with the Board of Directors proposal, the Annual
General Meeting authorised the Board to resolve to repurchase a
maximum of 2 000 000 own shares by using funds in the unrestricted
equity. The proposed number of shares corresponds to less than 10 per
cent of all shares in the company. The shares may be repurchased to
develop the company's capital structure. In addition, the shares may
be repurchased to finance or carry out business acquisitions or other
arrangements, to settle the company's equity-based incentive plans,
to be transferred for other purposes, or to be cancelled. The shares
may be repurchased in deviation from the proportion of the shares
held by the shareholders. The shares will be repurchased through
public trading arranged by OMX Nordic Exchange Helsinki Oy at the
market price of the acquisition date. The shares will be acquired and
paid in pursuance of the rules of OMX Nordic Exchange Helsinki Oy and
applicable rules regarding the payment period and other terms of the
payment. The authorisation is in force until the end of the next
Annual General Meeting and repeals the authorisation to acquire own
shares given by the General Meeting held on April 4, 2007.
The Board of Directors of Rapala has on April 3, 2008 elected
Emmanuel Viellard as the chairman of the Board of Directors.
Rapala VMC Corporation
Jorma Kasslin
Chief Executive Officer
For further information: Company Counsel Olli Aho, tel. +358 9 7562
540
Distribution: OMX Nordic Exchange Helsinki and main media