Directorate Change

RNS Number : 6709J

Victoria PLC

09 August 2012

 



Victoria PLC

('Victoria,' the 'Company,' or the 'Group')

Directorate change

Victoria PLC, (LSE: VCP) the international designers, manufacturers and distributors of innovative floorcoverings, announces that, with immediate effect, Sir Bryan Nicholson, a non-executive director, has resigned from the Company's Board of Directors.

As announced yesterday, significant differences arose between Sir Bryan, Alexander Anton and Geoff Wilding, both of whom resigned yesterday, and the rest of the Board in relation to the execution of the Company's strategy in circumstances where Sir Bryan, Mr. Anton and Mr. Wilding expected a significant financial interest in its outcome.

Victoria's Chairman, Katherine Innes Ker, said: "The resignation of the three non-executive directors enables the Company to move forward with its strategy of maximising returns for all shareholders."

"We will continue developing the Group's Australian and UK businesses through sales growth, margin enhancement and a shift towards a distribution based business from its historic manufacturing and supply model. Corporate M&A activity will also be considered where there are opportunities to generate accelerated returns to shareholders."

- Ends -

For more information contact:

Victoria PLC Katherine Innes Ker, Chairman Alan Bullock, Group Managing Director	[phone]
Seymour Pierce Jonathan Wright (Corporate finance) Tom Sheldon (Corporate finance) Richard Redmayne (Corporate broking) Jacqui Briscoe (Corporate broking)	[phone]
Pelham Bell Pottinger Olly Scott	[phone]

 

END

 

 

BOAPLMPTMBMMMBT