Composition of the Shareholders’ Nomination Board of Harvia Plc

Stock Exchange Release | 14 September 2020

Harvia Plc, Stock Exchange Release, September 14, 2020 at 6.00 PM EET

Harvia Plc’s Annual General Meeting, held April 2, 2020 resolved that a shareholders’ nomination board shall be established to prepare proposals concerning the election and remuneration of the Board Members as well as the remuneration of the members of the various Board committees that will be submitted to future Annual General Meetings and to any Extraordinary General Meetings where necessary.

Pursuant to the Board’s proposal, the shareholders’ nomination board would be comprised of representatives appointed by the company’s four largest shareholders. Each year, those four shareholders that hold the largest share of the votes conferred by all shares in the company on the first working day of the September preceding the applicable Annual General Meeting pursuant to the shareholders’ register maintained by Euroclear Finland Ltd will be entitled to appoint members that represent the shareholders.

The following members have been appointed to Harvia Plc’s shareholders nomination board:

  • Arja Talma, Onvest Oy, Chair of the Board
  • Heikki Savolainen, WestStar Oy, Managing Director
  • Antti Katajisto, SEB Investment Management AB, Helsinki Branch, Director
  • Pertti Harvia, Tiipeti Oy, Member of the Board

In addition, Olli Liitola, the Chairman of the Board of Directors of Harvia, serves as an expert in the Nomination Board without being a member.

The now appointed Nomination Board will forward its proposals for the 2021 Annual General Meeting to the Board of Directors by 31 January 2021.

Further information:

Olli Liitola, Chairman of the Board of Directors, tel. +358 40 060 5040

Ari Vesterinen, CFO, tel. +358 40 505 0440

Harvia in short

Harvia is one of the leading companies operating in the sauna and spa 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 and spa market of both private and professional customers.

Harvia’s revenue totaled EUR 74.1 million in 2019, and with EOS the pro-forma net sales of the group are estimated to exceed EUR 90 million. The company employs more than 500 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany, Estonia and Russia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.