Rapala VMC Corporation
Stock Exchange Release
April 1, 2016 at 3:00 p.m.
DECISIONS OF RAPALA VMC CORPORATION'S ANNUAL GENERAL MEETING ON APRIL 1, 2016
The Annual General Meeting (AGM) of Rapala VMC Corporation adopted the financial statement of the financial year 2015 and discharged the members of the Board of Directors and the CEO from the liability for the financial year that ended on December 31, 2015.
The AGM approved the Board of Director's proposal that a dividend of EUR 0.15 per share is paid. The dividend will be paid on April 12, 2016 to the shareholders who on the record date of April 5, 2016 are registered as shareholders in the company's shareholders' register kept by the Euroclear Finland Ltd.
The AGM approved that the Board of Directors consists of six members. Jorma Kasslin, Eero Makkonen, Marc Speeckaert, Christophe Viellard, Emmanuel Viellard and Julia Aubertin were re-elected as board members. The AGM resolved that the annual fee paid to each Board member is EUR 30 000 and EUR 80 000 to the Chairman of the Board. Board members are paid EUR 1 000 per meeting for attendance at board and its committee meetings.
Ernst & Young Oy, accountant firm, was appointed as Rapala VMC Corporation's auditor.
In accordance with the Board of Directors' proposal, the AGM authorized the Board of Directors 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 NASDAQ Helsinki Oy at the market price of the acquisition date. The shares will be acquired and paid in pursuance of the rules of NASDAQ Helsinki Oy and applicable rules regarding the payment period and other terms of the payment. The authorization is in force until the end of the next Annual General Meeting, however, no longer than until June 30, 2017.
The Board of Directors of Rapala VMC Corporation has April 1, 2016 elected Emmanuel Viellard as the Chairman of the Board of Directors.
RAPALA VMC CORPORATION
Jorma Kasslin
Chief Executive Officer
For further information, please contact:
Olli Aho, Company Counsel, 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.
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