Victoria PLC Issue of Warrants (3618V)
April 13 2021 - 1:05PM
UK Regulatory
TIDMVCP
RNS Number : 3618V
Victoria PLC
13 April 2021
13 April 2021
For Immediate Release
Victoria PLC
('Victoria,' the 'Company,' or the 'Group')
Issue of Warrants
Victoria PLC (LSE: VCP) the international designers,
manufacturers and distributors of innovative floorcoverings,
announces a new share-based long-term incentive plan ("LTIP") for
Roberto Moreno, Managing Director - Strategic Investments and
Corporate Development, and PDMR in the Company. This follows Mr.
Moreno's recent appointment, announced on 13 January. The LTIP
comprises the issue to Mr. Moreno of warrants to subscribe for a
total of 250,000 ordinary shares of 5 pence each ("the
Warrants").
The Warrants are exercisable at the exercise price of 5 pence
for up to 5 years, with 12,500 Warrants vesting per calendar
quarter, starting on 1 June 2021, subject to Mr Moreno's continued
employment with the Company. In the event of a change of control of
the Company, accelerated vesting of certain of the Warrants shall
apply. Vested Warrants shall be exercisable only upon the
occurrence of certain events or at specific dates, the earliest
date being in calendar year 2022. The ordinary shares acquired by
exercising Warrants are subject to a lockup prior to 1 January
2024, save for permitted sales in certain limited circumstances,
including to the extent necessary to pay any related tax
obligations.
Mr Moreno does not currently hold an interest in the issued
share capital of the Company.
For more information contact:
Victoria PLC
Geoff Wilding, Executive Chairman
Philippe Hamers, Group Chief Executive
Michael Scott, Group Finance Director +44 (0) 1562 749 610
N+1 Singer (Nominated Adviser and Joint
Broker)
Rick Thompson, Phil Davies, Alex Bond +44 (0) 207 496 3095
Berenberg (Joint Broker)
Ben Wright, Mark Whitmore, Tejas Padalkar +44 (0) 203 207 7800
Peel Hunt (Joint Broker)
Adrian Trimmings, Andrew Clark +44 (0) 207 418 8900
Buchanan Communications (Financial PR)
Charles Ryland, Chris Lane, Tilly Abraham +44 (0) 20 7466 5000
About Victoria
Established in 1895 and listed since 1963
and on AIM since 2013 (VCP.L), Victoria
PLC, is an international manufacturer and
distributor of innovative flooring products.
The Group, which is headquartered in Kidderminster,
UK, designs, manufactures and distributes
a range of carpet, flooring underlay, ceramic
tiles, LVT (luxury vinyl tile), artificial
grass and flooring accessories.
Victoria has operations in the UK, Spain,
Italy, Belgium, the Netherlands and Australia
and employs approximately 3,400 people
across more than 20 sites. Victoria is
the UK's largest carpet manufacturer and
the second largest in Australia, as well
as the largest manufacturer of underlay
in both regions.
The Group's strategy is designed to create
value for its shareholders and is focused
on consistently increasing earnings and
cash flow per share via acquisitions and
sustainable organic growth. (Further information
about Victoria can be found on its website,
www.victoriaplc.com.)
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Roberto Moreno
--------------------------------------- ---------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status PDMR
--------------------------------------- ---------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Victoria plc
--------------------------------------- ---------------------------------------
b) LEI 2138002K6ECECHVCQN25
--------------------------------------- ---------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------
a) Description of the Warrants over Ordinary Shares of
financial instrument, 5 pence
type of instrument
Identification code ISIN: GB00BZC0LC10
b) Nature of the transaction Issue of warrants
--------------------------------------- ---------------------------------------
c) Price(s) and volume(s)
----------------- -----------------
Price(s) Volume(s)
----------------- -----------------
GBP0.05 250,000
-------------------------------------------------------------- -----------------
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 12 April 2021
--------------------------------------- ---------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- ---------------------------------------
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END
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