Rapala VMC Corporation issues 315,000 shares to Okuma

As part of a deferred payment, Rapala VMC Corporation has issued 315,000 shares – worth €3,118,500m – to Okuma, following its acquisition of the Asian-based reel brand’s European and Russian distribution rights.

The Finnish-based tackle giant agreed the $8m (US) deal in January this year, with $4m being a deferred payment. The shares form a ‘significant’ proportion of the consideration paid by Rapala to Okuma and was paid for the purpose of strengthening the strategic cooperation between the two parties.

The price of the shares is €9.90 each, which was determined on the basis of the average price of Rapala shares on the Nasdaq Helsinki during the period from August 2nd to 6th this year.