HARVIA PLC STOCK EXCHANGE RELEASE 23 APRIL 2018 AT 3.00 P.M. EET
Harvia Plc (the "Company") has today received the following notification pursuant to Chapter 9, section 5 of the Securities Markets Act ("SMA"), according to which CapMan Buyout X Fund A L.P's ("CapMan Fund A") direct holding of the shares and votes of the Company is 17.37 percent and CapMan Fund A's holding through financial instruments has dereased below the threshold of 5 percent.
The change was due to a share lending agreement signed by CapMan Fund A and Danske Bank A/S, Finland Branch ("Danske Bank") in connection with the Initial Public Offering of the Company on 22 March 2018, according to which CapMan Fund A has on 22 March 2018 lent 1,085,268 existing shares in the Company to Danske Bank. Danske Bank has notified CapMan Fund A on 20 April 2018 that it will partially utilize the option, described in the Company's listing prospectus dated 8 March 2018, to purchase shares from CapMan Fund A up to the amount corresponding to the shares lent by CapMan Fund A to Danske Bank in order to cover over-allotments. Danske Bank purchases 1,014,281 shares from CapMan Fund A pursuant to the option and redelivers simultaneously to CapMan Fund A the shares borrowed by Danske Bank according to the share lending agreement. As a result, CapMan Fund A 's direct holding in the Company totals 3,247,590 shares and votes (amounting to 17.37 percent of all the shares and votes in the Company) and CapMan Fund A 's holding through financial instruments will decrease to zero, i.e. below the threshold of 5 percent.
Aggregate position of CapMan Fund A according to notification:
| % of shares and voting rights | % of shares and voting rights through financial instruments | Total of both in % | Total number of shares and voting rights of issuer | |
| Resulting situation on the date on which threshold was crossed or reached | 17.37% | - | 17.37% | 18,694,236 |
| Position of previous notification (if applicable) | 17.12% | 5.85% | 22.98% | 18,549,879 |
Notified details of the resulting situation following the crossing of threshold:
A: Shares and voting rights
| Number of shares and voting rights | % of shares and voting rights | |||
| Class / type of shares | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) |
| FI4000306873 | 3,247,590 | - | 17.37% | - |
| SUBTOTAL A | 3,247,590 | - | 17.37% | - |
HARVIA PLC
Additional information:
Ari Vesterinen, CFO
tel. +358 40 5050 440
ari.vesterinen@harvia.fi
Harvia in short
Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue.[1] Harvia's brands and product offering are well-known in the market[2] and the Company's comprehensive product offering strives to meet the needs of the international sauna and spa market, of both private and professional customers.
Harvia's revenue amounted to EUR 60.1 million in 2017, its operating profit was EUR 9.3 million and adjusted operating profit EUR 10.7 million during the same period. The Company employs some 365 professionals in Finland, China and Hong Kong, Romania, Austria, Germany and Estonia. The company's headquarters in Muurame, Finland are adjacent to its largest sauna and sauna component manufacturing facility.
[1] International Management Consultant Analysis conducted in autumn 2017 and commissioned by Harvia.
[2] The Harvia brand was the most recognised sauna brand in a survey of Finnish, Swedish, German, Russian and American consumers (altogether 810 consumers) conducted by an international management consultant company in autumn 2017 and commissioned by Harvia.
