Completion of £150m Preferred Equity Investment

RNS Number : 5615Y

Victoria PLC

17 January 2022

 

For Immediate Release     17 January 2022  

Victoria PLC

('Victoria' or the 'Group')

Completion of the Preferred Equity Investment of £150 million

from Koch Equity Development

The board of Victoria PLC, (LSE: VCP) the international designers, manufacturers and distributors of innovative flooring, is pleased to advise that, following the approval of the preferred equity investment by shareholders at a general meeting held on 13 January, the transaction has completed and Victoria has received £150 million (before fees and expenses) from Koch Equity Development.

Alongside the Group's existing financial resources, this capital will be carefully deployed to support Victoria's acquisition-led growth whilst maintaining the Board's long-expressed leverage policy.

For more information contact: Victoria PLC Geoff Wilding, Executive Chairman Philippe Hamers, Group Chief Executive Michael Scott, Group Finance Director [phone] Singer Capital Markets (Nominated Adviser and Joint Broker) Rick Thompson, Phil Davies, Alex Bond [phone] 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 [phone] [phone] [phone] 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 United States 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.)

 

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