Havyard proposes name change

Directors are proposing the name ‘Eqva’ as a combination of ‘eq’ for equal, equity and equality, and ‘va’ signifying variety and value. ‘Va’ also brings to mind the Norwegian word for ‘water’ (vann), signalling the company’s origins in the maritime sector.

Chair of the board, Even Matre Ellingsen, said that the trend was for new digital and sustainable solutions. “We aim to be a frontrunner of these solutions and are well equipped to take advantage of the macro trends with our variety of services,” he said.

Chief executive, Erik Høyvik, highlighted the significant steps made by the company in recent years. “We have expanded our service portfolio and positioned ourselves in industries where we can make a difference by driving change towards a more sustainable future and creating strong shareholder value,” he said.

“We continue our exciting transformation towards being an active owner of fully integrated service companies in maritime, power intensive and renewable industries. This evolution, combined with our future ambitions, inspired the need to revisit our name and identity,” he added.

The new name will be proposed to shareholders on 14 November 2022. Board members have already pledged their support and will vote in favour of the change.