REG - Victoria PLC - Response to Press Speculation

VictoriaAnnouncement

22/11/2021 11:45

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RNS Number : 1440T  Victoria PLC  22 November 2021

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Victoria PLC

('Victoria', the 'Company', or the 'Group')

 

Response to Press Speculation

 

 

The Board of Victoria PLC (the "Company") (LSE: VCP) the international
designers, manufacturers and distributors of innovative flooring, notes
the press speculation regarding possible discussions concerning a subsidiary
of Belgian company, Balta Group NV ("Balta").

 

Whilst speculative details in the article are inaccurate, the Board
can confirm that it is in discussions to potentially acquire a profitable,
growing part of Balta's group that it believes possesses good synergy
opportunities with Victoria's existing business. For the avoidance of
doubt, the Board confirms that Victoria is not contemplating an acquisition of
Balta as a whole.

 

There is, of course, no guarantee that any transaction will take place, but,
if it did, terms would be in line with Victoria's usual acquisition criteria
including being materially earnings accretive, and it could be funded entirely
from the Group's existing resources and in line with the Board's financial
policy.

 

A further announcement will be made in due course as appropriate.

 

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Michael Scott, Group Finance Director.

 

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

 Singer Capital Markets (Nominated Adviser and Joint Broker)    +44 (0) 207 496 3095

 Rick Thompson, Phil Davies, Alex Bond

 Berenberg (Joint Broker)

 Ben Wright, Mark Whitmore, Tejas Padalkar

 Peel Hunt (Joint Broker)

 Adrian Trimmings, Andrew Clark

 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 USA, 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
(https://urldefense.proofpoint.com/v2/url?u=http-3A__www.victoriaplc.com_&d=DwMFaQ&c=24Pv9SDmf15C3K1GQEblfw&r=gIZQkDlQUn80p4tU6cizA08DA33bhvu0WCEcA1TeYDE&m=33MqxBlZIpNy46cc_7KAkYtE0f1Z6WmpMWr17Si5ZHY&s=-dirmAlLgCbWsLD6Qm-ny2nv6OeVWwEHm_a-nozleb8&e=)
 .)

 

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