TRANSFER OF HARVIA’S OWN SHARES AS REWARDS UNDER THE INCENTIVE PROGRAM

HARVIA PLC                                    STOCK EXCHANGE RELEASE        JUNE 10, 2024 AT 14:30

The Board of Directors of Harvia Plc has on 6 June 2024 decided on a directed share issue without consideration for the payment of rewards earned under the company’s share-based incentive program. The share payments concern the performance period 2021–2023 of the company’s share-based incentive program launched in 2021.

In the share issue, 865 own shares held by the company have today been transferred without consideration to the key employees participating in the share-based incentive program in accordance with the program-specific terms and conditions.

The company holds a total of 4,207 own shares after the transfer of shares under the incentive program.

The decision on the transfer of shares is based on the authorization granted to the Board of Directors by the Annual General Meeting on 26 April 2024. No new shares shall be issued in connection with the program, and the program therefore has no diluting effect on shareholdings.

More information on the launch of the incentive program and its terms and conditions is available in a stock exchange release published on 5 July 2021 and on the decision on the repurchase of own shares for the incentive program in a stock exchange release published on 14 December 2022. The purpose of the long-term incentive program is to support the implementation of the company’s strategy, to align the objectives of the management and the company’s shareholders to increase the value of the company, to improve the performance of the company and to strengthen the commitment of the management to the company.

Additional information:
Ari Vesterinen, CFO
tel. +358 40 5050 440
[email protected]

Harvia is one of the leading companies operating in the sauna market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna market of both private and professional customers.

Harvia’s revenue totaled EUR 150.5 million in 2023. Harvia Group employs approximately 600 professionals in Finland, Germany, United States, Romania, China and Hong Kong, Austria, Italy, Estonia, and Sweden. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com