Harvia Plc Announces Share Remuneration for Board Members
Overview of Recent Changes at Harvia Plc
In an exciting development for Harvia Plc, a well-known player in the sauna market, a significant decision was made during the recent Annual General Meeting. This meeting, held on April 8, 2025, marked a pivotal moment for the company as it resolved to adjust the compensation structure for its Board of Directors.
New Remuneration Structure
The Board of Directors is set to receive 40 percent of their total monthly remuneration in the form of shares, which will be either purchased on public trading platforms like Nasdaq Helsinki Ltd or made available through a share issuance. This initiative aims to closely align the interests of the Board with those of Harvia’s shareholders.
Details of the Share Transfer
Today, Harvia Plc executed the transfer of 1,555 of its own shares to its Board members, fulfilling the promise made to shareholders during the recent AGM. This strategy not only rewards the Board for their contributions but also enhances their commitment to the company’s overall success.
Calculating the Share Amount
The calculation for the number of shares transferred is based on the conversion of approximately 40 percent of the Board members’ monthly remuneration into shares. The value of these shares was determined at the volume-weighted average price recorded on Nasdaq Helsinki Ltd on May 21, 2025. This method ensures that the share value remains equitable and transparent.
Impact on Harvia's Holdings
Following this transfer, Harvia Plc now retains a total of 3,800 of its own shares. This adjustment not only reflects the company's proactive approach to governance but also illustrates its commitment to maintaining a robust financial strategy.
About Harvia Plc
Harvia is recognized globally as a leading company in the sauna market. With a revenue of EUR 175.2 million in 2024, the company has established a strong presence not just in Finland, but also in multiple countries including the United States, Germany, Romania, China, and several others.
A Comprehensive Product Portfolio
Harvia’s extensive range of products caters to a diverse clientele, including both private and professional customers. With its headquarters in Muurame, Finland, adjacent to the largest sauna and sauna component manufacturing facility, Harvia is well-positioned to meet the demands of the global sauna market.
Company Leadership
For additional details regarding these changes, Matias Järnefelt, the CEO of Harvia, can be contacted directly at +358 40 5056 080. His leadership continues to steer Harvia towards achieving greater heights and fulfilling its strategic objectives.
Frequently Asked Questions
What recent changes were made to Harvia Plc’s Board remuneration?
The Board will now receive 40 percent of their total remuneration in the form of company shares rather than cash.
How many shares were transferred to the Board members?
1,555 shares were transferred to the Board members as per the new remuneration plan.
How was the number of shares determined?
The shares were calculated based on 40 percent of the monthly remuneration at the average trading price on May 21, 2025.
What is Harvia’s market position?
Harvia is a leading sauna market company globally, known for high-quality products.
Who can be contacted for more information?
Matias Järnefelt, the CEO, is the point of contact for additional information regarding these changes.
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