Last checked at 18 Nov 2020 13:00
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.
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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.)