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

HARVIA PLC                                  STOCK EXCHANGE RELEASE                                 March 26, 2025 AT 2.15 P.M. EET



 

The Board of Directors of Harvia Plc has on 25 February 2025 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 2022–2024 of the company’s share-based incentive program launched in 2022.

In the share issue, 9,852 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 terms and conditions of the program.

The company holds a total of 5,355 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. The transfer of shares has no diluting effect on shareholdings as the shares transferred are own shares held by the company.

The launch of the performance period and its key terms and conditions have been announced in a stock exchange release on 5 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 and to improve the performance of the company as well as to strengthen the commitment of the management to the company.

Additional information:

Ari Vesterinen, CFO

tel. +358 40 5050 440

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 175.2 million in 2024. Harvia Group employs approximately 700 professionals in Finland, United States, Germany, 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.



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