RAPALA BOARD RESOLVED ON A NEW SHARE BASED INCENTIVE PLAN FOR KEY PERSONNEL
Comunicato Precedente
Comunicato Successivo
Rapala VMC Corporation
Stock Exchange Release
June 15, 2012 at 3:30 p.m.
The Board of Directors of Rapala VMC Corporation ("Rapala" or "Company") has approved a new share-based inventive plan ("Plan") for the Group's key personnel. The purpose of the Plan is to secure the alignment of objectives of the shareholders and the key personnel, to further increase the commitment of the key personnel to the company and especially to provide an additional incentive to promote the execution of Group's inventory reduction initiatives.
The Plan includes one earning period which commenced on April 1, 2012 and will end on June 30, 2013. The potential reward from the plan will be based on development of Rapala Group's inventory levels and EBITDA.
The potential reward from the Plan will be paid primarily as the Company's shares in August 2013. Payment is subject to the person being employed by the Group at the moment of the payment. Following the payment, the shares are not subject to any disposal restrictions. The target group of the Plan consists of 20 key employees of the Rapala Group. The gross rewards to be paid on the basis of the Plan will correspond to the value maximum total of 235 000 Rapala shares. On Boards decision part of the reward may also be paid in cash.
RAPALA VMC CORPORATION
Jorma Kasslin
Chief Executive Officer
For further information, please contact:
Olli Aho, Legal Counsel, tel. +358 9 7562 540
Distribution: NASDAQ OMX Helsinki and Main Media
Rapala VMC Corporation (Rapala) 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, Marttiini and Peltonen. The Group, with net sales of EUR 279 million in 2011, employs some 2 000 people in 37 countries. Rapala's share is listed and traded on the NASDAQ OMX Helsinki stock exchange since 1998.
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