Harvia starts repurchasing own shares for its incentive plan

Stock Exchange Release | 14 December 2022

Harvia Plc, Stock Exchange Release, December 14, 2022 at 9:00 am

The Board of Directors of Harvia Plc has on the basis of the authorization given by the Annual General Meeting dated 7 April 2022 decided to start repurchasing the company’s own shares. The shares shall be repurchased to be used as a part of the company’s incentive plan. The maximum number of shares to be acquired is 16,000, corresponding to 0,09% of the total number of shares. The maximum sum to be used for the repurchase is EUR 400.000. The shares shall be acquired at market price at the time of purchase through public trading on Nasdaq Helsinki Ltd. The share repurchase shall at the earliest start on 14 December 2022, and end by 19 April 2023.

The Annual General Meeting on 7 April 2022 authorized the Board of Directors to decide on the repurchase of a maximum of 934,711 of the company’s own shares (approx. 5,0% of all shares of the company). Own shares shall be repurchased with funds from the company’s unrestricted shareholders’ equity.

The total number of shares in Harvia Plc is 18,694,236. At the moment, Harvia Plc holds 5,074 of its own shares.

Additional information:

Ari Vesterinen, CFO
tel. +358 40 5050 440

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 179.1 million in 2021, of which 79% came from outside Finland. Harvia Group employs more than 700 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.

Read more: https://harviagroup.com