Victoria PLC Response to Press Speculation (1440T)
November 22 2021 - 6:44AM
UK Regulatory
TIDMVCP
RNS Number : 1440T
Victoria PLC
22 November 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Victoria PLC
('Victoria', the 'Company', or the 'Group')
Response to Press Speculation
The Board of Victoria PLC (the "Company") (LSE: VCP) the
international designers, manufacturers and distributors of
innovative flooring, notes the press speculation regarding possible
discussions concerning a subsidiary of Belgian company, Balta Group
NV ("Balta").
Whilst speculative details in the article are inaccurate, the
Board can confirm that it is in discussions to potentially acquire
a profitable, growing part of Balta's group that it believes
possesses good synergy opportunities with Victoria's existing
business. For the avoidance of doubt, the Board confirms that
Victoria is not contemplating an acquisition of Balta as a
whole.
There is, of course, no guarantee that any transaction will take
place, but, if it did, terms would be in line with Victoria's usual
acquisition criteria including being materially earnings accretive,
and it could be funded entirely from the Group's existing resources
and in line with the Board's financial policy.
A further announcement will be made in due course as
appropriate.
The person responsible for arranging the release of this
announcement on behalf of the Company is Michael Scott, Group
Finance Director.
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
Singer Capital Markets (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
Peel Hunt (Joint Broker)
Adrian Trimmings, Andrew Clark
Buchanan Communications (Financial PR)
Charles Ryland, Chris Lane, Vicky Hayns, Tilly Abraham
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, the USA, and Australia and employs approximately 4,000
people across more than 26 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 .)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
SPCUUSARAOUAUAA
(END) Dow Jones Newswires
November 22, 2021 06:44 ET (11:44 GMT)
Victoria (LSE:VCP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Victoria (LSE:VCP)
Historical Stock Chart
From Apr 2023 to Apr 2024