REG - Victoria PLC - Completion of £150m Preferred Equity Investment

VictoriaAnnouncement

17/01/2022 07:05

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RNS Number : 5615Y  Victoria PLC  17 January 2022

For Immediate
Release
         17 January 2022

 

Victoria PLC

('Victoria' or the 'Group')

Completion of the Preferred Equity Investment of £150 million

from Koch Equity Development

 

The board of Victoria PLC, (LSE: VCP) the international designers,
manufacturers and distributors of innovative flooring, is pleased to advise
that, following the approval of the preferred equity investment by
shareholders at a general meeting held on 13 January, the transaction has
completed and Victoria has received £150 million (before fees and expenses)
from Koch Equity Development.

 

Alongside the Group's existing financial resources, this capital will be
carefully deployed to support Victoria's acquisition-led growth whilst
maintaining the Board's long-expressed leverage policy.

 

 

 For more information contact:

Victoria PLC                                                   +44 (0) 1562 749 610

 Geoff Wilding, Executive Chairman

 Philippe Hamers, Group Chief Executive

 Michael Scott, Group Finance Director

                                                                +44 (0) 207 496 3095

 Singer Capital Markets (Nominated Adviser and Joint Broker)

 Rick Thompson, Phil Davies, Alex Bond

 Berenberg (Joint Broker)                                       +44 (0) 203 207 7800

 Ben Wright, Mark Whitmore, Tejas Padalkar

                                                                +44 (0) 207 418 8900

 Peel Hunt (Joint Broker)

 Adrian Trimmings, Andrew Clark                                 +44 (0) 20 7466 5000

 Buchanan Communications (Financial PR)

 Charles Ryland, Chris Lane, Vicky hayns, Tilly Abraham

 

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, the
 United States and Australia and employs approximately 4,000 people across more
 than 26 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.)

 

 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, the
 United States and Australia and employs approximately 4,000 people across more
 than 26 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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