Rapala VMC Corporation
Stock Exchange Release
March 13, 2009 at 11.00
The Board of Directors of Rapala VMC Corporation (Rapala or Company)
has approved a new share-based incentive plan (Plan) for the Group's
key personnel. The aim of the Plan is to combine the objectives of
the shareholders and the key personnel in order to increase the value
of the Company, to commit the key personnel to the Company, and to
offer them a competitive reward plan based on holding the Company
shares.
The Plan includes one earning period, which commenced on January 1,
2009 and will end on December 31, 2010. The potential reward from the
Plan will be based on the Rapala's earnings per share (EPS) in 2010.
The potential reward from the Plan will be paid as the Company's
shares in 2011. No reward will be paid to a key person, if the
Company or a key person gives notice of termination or terminates an
employment or service contract before the reward payment. The target
group of the Plan consists of some 20-40 key employees of Rapala. The
gross rewards to be paid on the basis of the Plan will correspond to
the value of a maximum total of 200,000 Rapala shares.
RAPALA VMC CORPORATION
Jorma Kasslin
Chief Executive Officer
For further information, please contact:
Jorma Kasslin, President and Chief Executive Officer, +358 9 7562 540
Jouni Grönroos, Chief Financial Officer, +358 9 7562 540
Olli Aho, Investor Relations, +358 9 7562 540
Distribution: NASDAQ OMX Helsinki and main media
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 and China. The Group brand portfolio includes the leading
brand in the industry, Rapala, and other global brands like VMC,
Storm, Blue Fox, Luhr Jensen, Williamson, Marttiini and Sufix. The
Group, with net sales of EUR 243 million in 2008, employs more than
3000 people in 30 countries. Rapala's share is listed and traded on
the NASDAQ OMX Helsinki stock exchange since 1998.
