Transfer of Harvia’s own shares as rewards under the incentive program

Stock Exchange Release | 12 May 2021

Harvia Plc, Stock Exchange Release, May 12, 2021 at 3:30 p.m.

The Board of Directors of Harvia Plc has on 4 May 2021 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 2018–2020 of the company’s share-based incentive program launched in 2018.

In the share issue, 42,943 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.

After the transfer of shares, the company holds a total of 7,057 own shares.

The decision on the transfer of shares is based on the authorization granted to the Board of Directors by the Annual General Meeting on 8 April 2021. No new shares shall be issued in connection with the program, and the program therefore has no diluting effect on shareholdings.

More detailed information on the establishment of the incentive program and its terms and conditions is available in a stock exchange release published on 21 May 2018, and on the decision on the repurchase of own shares for the incentive program in a stock exchange release published on 24 November 2020. 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:
Tapio Pajuharju, CEO
tel. +358 50 5774 200

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 109.1 million in 2020. Harvia Group employs more than 600 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.

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