Rapala VMC concludes programme to buy back its own shares
Rapala VMC Corporation has completed the buy-back of its shares.
The Finnish fishing tackle giant announced plans to repurchase a maximum of 100,000 of the corporation’s own shares for a maximum of €700,000 after being given the go-ahead at its Annual General Meeting in March.
The programme started on April 1 and ended yesterday. During that period it bought 86,043 shares for an average price of €8.1354 per share. The number of shares correspond to approximately 0.22% of the total number of the company’s 39m shares.
The repurchase programme was undertaken to develop the company’s capital structure and/or to use the shares for potential acquisitions and other business arrangements.
The repurchase was carried out through public trading on the Nasdaq Helsinki. Rapala now holds a total of 365,236 of its own shares.