31 Mar 2022 16:57
31 March 2022
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Victorian Plumbing Group plc
("Victorian Plumbing" or the "Company")
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PDMR LTIP AWARDS
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Victorian Plumbing Group plc (AIM: VIC), the UK's leading online retailer of bathroom products and accessories, makes the following announcement in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (596/2014EU), which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, in respect of ordinary shares of £0.001 each in the capital of Victorian Plumbing Group plc.
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On 29 March 2022, awards over shares (the "Awards") were made under the Victorian Plumbing Group plc Long Term Incentive Plan (the "Plan"), consequently, the share interests of the under-noted directors and persons discharging managerial responsibility have changed following the making of the Awards.
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The Awards, made for nil consideration, are nil-cost options established in accordance with the rules of the Plan and vesting is subject to adjusted earnings per share ("EPS") (75% of each Award) and total shareholder return ("TSR") targets (25% of each Award), measured over the three year performance period ending 30 September 2024. A further two year holding period will apply following the vesting date.
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Director/PDMR | Role | Number of shares over which Awards made |
Mark Radcliffe | Chief Executive Officer | 143,129* |
Paul Meehan | Chief Financial Officer | 180,343* |
*As stated in the Admission Document at the time of IPO, the first set of awards under the Plan will be based on the Placing Price of 262p.
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There were 325,062,985 shares in issue at the time of this notification (not including those shares which may be issued in accordance with these awards).
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1. | Details of PDMR | |||||||
(a) | Name | MARK RADCLIFFE PAUL MEEHAN Â | ||||||
2. | Reason for notification | |||||||
(a) | Position/Status | MARK RADCLIFFE - CHIEF EXECUTIVE OFFICER PAUL MEEHAN - CHIEF FINANCIAL OFFICER Â | ||||||
(b) | Initial notification / amendment | Initial Notification  | ||||||
3. | Details of the Issuer | |||||||
(a) | Name | VICTORIAN PLUMBING GROUP PLC Â | ||||||
(b) | LEI | 894500R59II0S4WXGZ04 Â | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) have been conducted | |||||||
(a) | Description of the financial instrument | Ordinary shares of £0.001 each  | ||||||
(b) | Nature of the transaction | Awards made pursuant to the Victorian Plumbing Group plc Long Term Incentive Plan ("LTIP") Â | ||||||
(c) | Price(s) and volume |
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(d) | Aggregated information | n/a  | ||||||
(e) | Date of the transaction | 29 MARCH 2022 Â | ||||||
(f) | Place of the transaction | Outside a trading venue  |
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For further information, please contact:
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Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer  | via FTI Consulting +44 20 3727 1000 |
FTI Consulting (Financial PR) Alex Beagley Eleanor Purdon Sam Macpherson  | +44 20 3727 1000 VictorianPlumbing@fticonsulting.com |
Houlihan Lokey UK Ltd (Nominated Adviser) Sam Fuller, Tim Richardson, Paul Lines | +44 20 7484 4040 |
Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress | +44 20 7623 2323 |
Numis Securities Limited (Joint Broker) Luke Bordewich, Tom Jacob, Oliver Steele | +44 20 7260 1000 |
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About Victorian Plumbing Group
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Victorian Plumbing is the UK's leading online retailer of bathroom products and accessories, offering a wide range of over 24,000 products to B2C and trade customers. Victorian Plumbing offers its customers a one-stop shop solution for the entire bathroom with more than 125 own and third-party brands across a wide spectrum of price points.
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The Group's product design and supply chain strengths are complemented by its creative and brand-focused marketing strategy, which predominantly focus on online channels to drive significant and growing traffic to its website.
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Headquartered in Skelmersdale, Lancashire, the Group employs over 500 staff across seven locations in Skelmersdale, Manchester and Birmingham.
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