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Victoria PLC (VCP)

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Wednesday 18 November, 2020

Victoria PLC

Completion of Share Buyback

RNS Number : 7600F
Victoria PLC
18 November 2020
 

18 November 2020

 

Victoria PLC

('Victoria', or the 'Company')

 

Completion of Share Buyback

Transaction in Own Shares, Total Voting Rights and Board Shareholdings

Victoria PLC (LSE: VCP) the international designers, manufacturers and distributors of innovative floorcoverings, announces that it has completed the off-market purchase of 8,546,095 ordinary 5p shares at 350 pence per share. These shares, representing approximately 6.82 per cent. of the Company's current issued ordinary share capital, have today been transferred into treasury.

The total number of ordinary 5p treasury shares now held in treasury is 8,546,095.

As a result of the above, the total number of ordinary 5p shares in issue at the date of this notice is 116,851,909 (excluding the shares held in treasury). The figure of 116,851,909 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

The Company also announces that The Spruce House Partnership LP has completed its previously announced off-market purchase of 3,600,000 ordinary shares at 350 pence per share.  Zachary Sternberg, non-executive director, has an indirect beneficial interest in the Company via The Spruce House Partnership LP shareholding.

Finally, the Company advises that, further to today's transfer into treasury of 8,546,095 ordinary 5p shares, the following Directors have increased their interest in Victoria's issued share capital as set out below: 

Name

Position

No. of Ordinary Shares

Percentage of Issued Share Capital

Geoff Wilding1

Executive Chairman

22,438,650

19.20%

Philippe Hamers

Chief Executive Officer

185,000

0.16%

Michael Scott

Group Finance Director

416,726

0.36%

Gavin Petken

Non-Executive Director

8,016

0.01%

Andrew Harrison

Non-Executive Director

207,725

0.18%

Zachary Sternberg²

Non-Executive Director

22,170,000

18.97%

1.  Geoff Wilding and his family are discretionary beneficiaries of the Camden Trust which in turn owns Camden Holdings Limited. Camden Holdings Limited is the owner of the above shareholding of  22,438,650 ordinary shares  and as a result Mr. Wilding is the beneficial owner of this shareholding.

2.  Zachary Sternberg has an indirect beneficial interest in the Company via The Spruce House Partnership LP shareholding.

 

 

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

 

Peel Hunt (Joint Broker)

Adrian Trimmings, Andrew Clark

 

 

Buchanan Communications (Financial PR)

Charles Ryland, Chris Lane, Tilly Abraham

+44 (0) 203 207 7800

 

 

+44 (0) 207 418 8900

 

 

 

+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.)

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