Last checked at 30 Oct 2020 18:15
For Immediate Release | 30 October 2020 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.
Victoria PLC
Posting of Circular
('Victoria', the 'Company', or the 'Group')
Victoria PLC (LSE: VCP) the international designers, manufacturers and distributors of innovative floorcoverings, announces that, further to the announcement on 22 October 2020 regarding the proposed £175 million investment from KED Victoria Investments, LLC ("KED"), an affiliate of Koch Equity Development, LLC ("Koch Equity Development") by way of convertible preferred shares to be issued by Victoria (the "Preferred Equity Investment"), the Company has signed an investment agreement with KED and has published a circular (the "Circular") in connection with the Preferred Equity Investment.
The Circular contains a notice convening a General Meeting of the Company, at which certain resolutions in connection with the Preferred Equity Investment will be put to shareholders. The meeting will be held at Company's office at Worcester Road, Kidderminster, Worcestershire, DY10 1JR on 16 November 2020 at 12.00 p.m.
Due to the public health guidelines issued by the UK Government relating to COVID-19, the General Meeting will be run as a closed meeting and shareholders will not be able to attend in person. The Company will ensure that the legal requirements to hold the General Meeting can be satisfied through the attendance of a minimum number of Directors and/or employees who are Shareholders in person. Although Shareholders are not able to attend the General Meeting in person, shareholders are encouraged to return a form of proxy and to vote by proxy on the Resolutions. Details of how to do this can be found in the Circular.
The Circular and the Notice of General Meeting will also be available for viewing on Victoria's website at www.victoriaplc.com.
Terms used in this announcement shall have the same meaning as those used in the Circular.
For more information contact:
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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.)