Overview of Redemption Notice
Rapala VMC Corporation has made an important announcement regarding its hybrid capital securities issued in 2023. As a leading company in the global fishing tackle industry, this step demonstrates its ongoing commitment to strategic financial management and shareholder value enhancement.
Details on Existing Capital Securities
The hybrid capital securities, which were issued with an initial nominal amount of EUR 30 million, are set for redemption. This action allows Rapala VMC to streamline its capital structure while ensuring continued provide value to its investors.
Redemption Process Explained
According to the terms of the existing capital securities, Rapala VMC will redeem all outstanding securities. This decision aligns with the company’s commitment to enhancing financial resilience. Recently, the company undertook a tender offer, successfully purchasing securities representing an aggregate principal amount of EUR 28,500,000, leaving EUR 1,500,000 remaining.
Redemption Schedule and Financial Implications
Set for December 12, 2025, the redemption process signifies an essential phase for Rapala VMC. During this day, the company will pay the Holders a redemption price equal to 101 per cent of the nominal value. Additionally, any accrued but unpaid interest will also be compensated.
Impact on Holders
This irrevocable notice assures all Holders that their securities will be cancelled following the redemption. This structured approach reinforces Rapala VMC's commitment to transparency and accountability within its financial operations.
Corporate Insights
Founded in Finland, Rapala VMC Group stands as a leader within the fishing tackle industry. With a robust distribution network, they are recognized for their high-quality fishing lures and tools, boasting a diverse brand portfolio that includes globally acknowledged names like Rapala, VMC, and Sufix.
Manufacturing and Workforce
The company operates manufacturing facilities across Finland, France, Estonia, and the UK. Rapala VMC takes pride in a dedicated workforce of approximately 1,400 employees across 40 countries, embodying a commitment to excellence and innovation in the fishing industry.
Contact for Further Information
For further inquiries, stakeholders can reach out to the dedicated team at Rapala VMC. Cyrille Viellard, the President and CEO, along with Miikka Tarna (CFO) and Tuomo Leino (Investor Relations), are available to assist with any questions concerning this announcement.
Contact Information
For additional details, please contact:
Cyrille Viellard, President and CEO
Miikka Tarna, Chief Financial Officer
Tuomo Leino, Investor Relations
Tel: +358 9 7562 540
Frequently Asked Questions
What does the redemption of hybrid capital securities mean for Rapala VMC?
The redemption signifies the company's move to strengthen its financial structure and enhance shareholder value.
When will the redemption occur?
The redemption is scheduled for December 12, 2025.
What will the Holders receive during the redemption?
Holders will receive a redemption price equal to 101 per cent of their nominal value, in addition to any accrued interest.
Who can I contact for more information about the redemption?
For inquiries, you can reach Cyrille Viellard, President and CEO, at +358 9 7562 540.
What is Rapala VMC's significance in the fishing tackle industry?
Rapala VMC is recognized as a leading fishing tackle company, known for its quality products and extensive distribution network, enhancing its global market leadership.
