HARVIA PLC STOCK EXCHANGE RELEASE 27 MARCH 2018 AT 4.00 P.M. EET
Harvia Plc (“The Company”) has received on 27 March 2018 the following notification pursuant to Chapter 9, section 5 of the Securities Markets Act (“SMA”), according to which CapMan Fund A’s direct holding of the shares and votes of the Company decreases to 17.12 percent and CapMan Fund A’s holding through financial instruments increased above the threshold of 5 percent on 22 March 2018. 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. The share lending did not affect the aggregate total holdings of CapMan Fund A, which amounts to 4,261,871 shares including the lent shares.
Aggregate position of CapMan Buyout X Fund A L.P 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 | 17.12% | 5.85% | 22.98% | 18,549,879 |
| Position of previous notification (if applicable) | – | – | – | – |
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 | 3,176,603 | – | 17.12% | – |
| SUBTOTAL A | 3,176,603 | – | 17.12% | – |
B: Financial instruments according to SMA 9:6a.
| Type of financial instrument | Expiration date | Excercise/ Conversion Period | Physical or cash settlement | Number of shares and voting rights | % of shares and voting rights |
| Share lending with the initial public offering | 22.3.2018 | – | Physical | 1,085,268 | 5.85% |
| SUBTOTAL B | – | 1,085,268 | 5.85% |
HARVIA PLC
Additional information:
Tapio Pajuharju, CEO
tel. +358 50 577 4200
tapio.pajuharju@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.