REG - Victoria PLC - Senior management appointment & grant of options

VictoriaAnnouncement

21/03/2024 10:30

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RNS Number : 7909H  Victoria PLC  21 March 2024

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  Grant of options to subscribe for Ordinary shares of 5 pence each in Victoria

                                                            plc
              Identification code

                                                                           GB00BZC0LC10
   b)         Nature of the transaction                                    LTIP Share Scheme

    Each c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                           £2.335      1,067,481

                                                                           £0.05       720,000

   d)         Aggregated information

               - Aggregated volume                                         N/A - single transaction

               - Price
   e)         Date of the transaction                                      15 March 2024
   f)         Place of the transaction                                     Outside of a trading venue

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                                                                   www.victoriaplc.com/investors-welcome

                                                                              (http://www.victoriaplc.com/investors-welcome)
 Geoff Wilding, Executive Chairman

                                                                              Via Walbrook PR
 Philippe Hamers, Group Chief Executive

 Brian Morgan, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Joint Broker)                    +44 (0)20 7496 3095

 Rick Thompson, Phil Davies, James Fischer

 Berenberg (Joint Broker)                                                       +44 (0)20 3207 7800

 Ben Wright, Richard Bootle

 Peel Hunt (Joint Broker)                                                       +44 (0)20 7418 8900

 Andrew Clark

 Walbrook PR (Media & Investor Relations)      +44 (0)20 7933 8780 or victoria@walbrookpr.com

 Paul McManus, Alice Woodings                  +44 (0)7980 541 893 / +44 (0)7407 804 654

 

About Victoria PLC (www.victoriaplc.com (http://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.)

 

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