Victoria
PLC
("Victoria",
the "Company", or the "Group")
Senior
management appointment and related grant of new
options
Victoria PLC (LSE: VCP), the
international designer, manufacturer and distributor of innovative
flooring, announces the appointment of Roberto Moreno as the Group
Chief Strategy Officer, and PDMR in the Company, along with details
of his long-term incentive plan.
Roberto brings 16 years of
experience in banking, investing, mergers and acquisitions and
corporate value creation across a wide range of industries in the
United States and Europe. Over the past three years, Roberto has
led Victoria's acquisition-based growth in North America, where
Victoria now has over $350 million in distribution revenue across
several flooring categories.
Prior to joining Victoria, Roberto
was a Managing Director at Sandton Capital Partners, a global
private equity firm focused on special situations across the UK,
Europe and North America. At Sandton, Roberto launched and led the
firm's Spain presence, orchestrating several successful investments
and delivering exceptional returns to investors. He served as
Executive Chairman at Neoelectra, a prominent Spain-based power
producer, where he led its dramatic profit growth, quadrupling the
enterprise value from acquisition to divestiture through organic
growth strategies and targeted acquisitions across Europe and Latin
America. Subsequent to this, Roberto was Chief Investment Officer
at E.L. Rothschild, a family investment company with holdings in
media, wealth management, infrastructure, real estate, agriculture
and consumer goods. Roberto started his career as an investment
banker at Deutsche Bank's New York office. Roberto holds an
Economics degree from the University of Pennsylvania and is fluent
in English and Spanish.
Grant of new options
A new long-term incentive plan has
been established for Roberto Moreno, comprising:
(i)
a fair market value option for 1,067,481 Ordinary shares of £0.05
each in the capital of the Company with an exercise price of £2.335
per Ordinary Share; and
(ii)
a par value option for 720,000 Ordinary Shares, with an exercise
price of £0.05 per Ordinary Share.
The options will vest equally on a
quarterly basis over a period from March 2024 to September 2026 as
long as Mr Moreno remains employed by the Group. The fair market
value option may be exercised up until the tenth anniversary of the
date that the options were granted and the par value option may be
exercised up until 31 December 2027.
Geoff Wilding, Chairman of Victoria PLC, commented on Roberto
Moreno's appointment:
"Roberto's extensive experience and proven track record in
driving strategic growth and delivering results make him an
invaluable addition to Victoria's senior management team. His
leadership and expertise will play a crucial role in advancing our
strategic initiatives and operational excellence projects - further
solidifying our position as a leader in the global flooring
industry. We are excited to welcome Roberto to his new role and
look forward to the impactful contributions he will undoubtedly
make."
Notification and public disclosure
of transactions by persons discharging managerial responsibilities
and persons closely associated with them.
|
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
|
a)
|
Name
|
Roberto Moreno
|
|
|
2
|
Reason for the notification
|
|
|
a)
|
Position/status
|
PDMR
|
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
|
a)
|
Name
|
Victoria plc
|
|
|
b)
|
LEI
|
2138002K6ECECHVCQN25
|
|
|
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 transactions have been
conducted
|
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
Grant of options to subscribe for
Ordinary shares of 5 pence each in Victoria plc
GB00BZC0LC10
|
|
|
b)
|
Nature of the transaction
|
LTIP Share Scheme
|
|
|
Each c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£2.335
£0.05
|
1,067,481
720,000
|
|
|
|
|
|
|
d)
|
Aggregated information
-
Aggregated volume
- Price
|
N/A - single transaction
|
|
|
e)
|
Date of the transaction
|
15 March 2024
|
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
For more information
contact:
|
Victoria
PLC
Geoff Wilding, Executive Chairman
Philippe Hamers, Group Chief Executive
Brian Morgan, Chief Financial Officer
|
www.victoriaplc.com/investors-welcome
Via Walbrook PR
|
|
Singer Capital
Markets (Nominated Adviser and Joint Broker)
Rick Thompson, Phil Davies, James Fischer
|
+44 (0)20 7496
3095
|
|
Berenberg (Joint
Broker)
Ben Wright, Richard Bootle
|
+44 (0)20 3207 7800
|
|
Peel Hunt (Joint
Broker)
Andrew Clark
|
+44 (0)20 7418 8900
|
|
Walbrook PR (Media
& Investor Relations)
Paul McManus, Alice Woodings
|
+44 (0)20 7933 8780 or
victoria@walbrookpr.com
+44 (0)7980 541 893 /
+44 (0)7407 804 654
|
|
|
|
About Victoria PLC
(www.victoriaplc.com)
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 Company, which
is headquartered in Worcester, 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, Germany, Turkey, the USA, and
Australia and employs approximately 6,750 people across 30 sites.
Victoria is Europe's largest carpet manufacturer and the second
largest in Australia, as well as the largest manufacturer of
underlay in both regions.
The Company'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.)