Transfer of Harvia’s own shares as part of remuneration of the Board

Harvia Plc, Stock Exchange Release, 30 May 2023 at 8:30 p.m. EEST

Based on the decision of the General Meeting held 20 April 2023, Harvia Oyj has on 30 May 2023 transferred a total of 2,328 own shares possessed by the company to members of the Board of Directors of Harvia Oyj as part of the Board’s remuneration.

After the transfer of shares as part of the board remuneration and the shares transferred at the same time under the incentive program, the company holds a total of 9,637 own shares.

Based on the decision of the General Meeting of Harvia Oyj, the monthly remuneration of the Board members will be paid in company shares and in cash in such a way that approximately 40 per cent of the total monthly remuneration will be paid in company shares purchased at a price determined in public trading on Nasdaq Helsinki Ltd and approximately 60 per cent will be paid in cash. The company will pay any costs and transfer tax related to the purchase of company shares. In case the remuneration cannot be paid in company shares due to legal or other regulatory restrictions or due to other reasons related to the company or a member of the Board of Directors, the remuneration will be paid in cash.

Additional information:
Ari Vesterinen, CFO
tel. +358 40 5050 440
ari.vesterinen@harvia.com

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 172.4 million in 2022. Harvia Group employs more than 600 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany and Estonia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com