REG - Vic Plumbing - PDMR LTIP Awards

Victorian PlumbingAnnouncement

24/02/2023 07:00

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RNS Number : 9013Q  Victorian Plumbing Group plc  24 February 2023

24 February 2023

 

Victorian Plumbing Group plc

("Victorian Plumbing" or the "Group")

 

PDMR LTIP Awards

 

Victorian Plumbing Group plc (AIM: VIC), the UK's leading online specialist
bathroom retailer, 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.

 

On 22 February 2023, awards over shares (the "Awards") were made under the
Victorian Plumbing Group plc Long Term Incentive Plan (the "LTIP"),
consequently, the share interests of the under-noted directors and persons
discharging managerial responsibility have changed following the making of the
Awards.

 

The Awards for the LTIP, made for nil consideration, are nil-cost options
established in accordance with the rules of the shareholder approved plan and
vesting is subject to an adjusted earnings per share ("EPS") target, measured
over the three year performance period ending 30 September 2025. A two year
holding period will apply following the vesting date.

 

 Director/PDMR   Role                     Number of shares over which Awards are made
 Mark Radcliffe  Chief Executive Officer  661,725
 Paul Meehan     Chief Financial Officer  208,443

 

There were 325,227,984 shares in issue at the time of this notification (not
including those shares which may be issued in accordance with these awards).

 

 1.   Details of PDMR
 (a)  Name                                     MARK RADCLIFFE

                                               PAUL MEEHAN
 2.   Reason for notification
 (a)  Position/Status                          MARK RADCLIFFE - CHIEF EXECUTIVE OFFICER

                                               PAUL MEEHAN - CHIEF FINANCIAL OFFICER
 (b)  Initial notification / amendment         Initial Notification

 3.   Details of the Issuer
 (a)  Name                                     VICTORIAN PLUMBING GROUP PLC

 (b)  LEI                                      894500R59II0S4WXGZ04

 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")

 (c)  Price(s) and volume                      Price(s)  Volume(s)
                                               Nil       MARK RADCLIFFE - 661,725
                                               Nil       PAUL MEEHAN - 208,443

 

 (d)  Aggregated information                   n/a

 (e)  Date of the transaction                  22 FEBRUARY 2023

 (f)  Place of the transaction                 Outside a trading venue

 

 

(d)

Aggregated information

n/a

 

(e)

Date of the transaction

22 FEBRUARY 2023

 

(f)

Place of the transaction

Outside a trading venue

 

 

 

-ENDS-

 

 

For further information, please contact:

 

 Victorian Plumbing Group plc                                via FTI Consulting

 Mark Radcliffe, Chief Executive Officer                     +44 20 3727 1000

 Paul Meehan, Chief Financial Officer

 Daniel Barton, Director of Finance and Company Secretary

 FTI Consulting (Financial PR)                               +44 20 3727 1000

 Alex Beagley, Eleanor Purdon, Harriet Jackson, Amy Goldup   VictorianPlumbing@fticonsulting.com

 Houlihan Lokey UK Ltd (Nominated Adviser)                   +44 20 7484 4040

 Sam Fuller, Tim Richardson

 Barclays Bank PLC (Joint Broker)                            +44 20 7623 2323

 Nicola Tennent, Stuart Muress

 Numis Securities Limited (Joint Broker)                     +44 20 7260 1000

 Luke Bordewich, Oliver Steele

 

About Victorian Plumbing Group

 

Victorian Plumbing is the UK's leading online specialist bathroom retailer,
offering a wide range of over 32,000 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.

 

The Group's product design and supply chain strengths are complemented by its
creative and brand-focused marketing strategy, which predominantly focuses on
online channels to drive significant and growing traffic to its website.

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