REG - Victorian Plumbing - PDMR LTIP AWARDS

Victorian PlumbingAnnouncement

31/03/2022 17:00

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RNS Number : 8402G  Victorian Plumbing Group plc  31 March 2022

31 March 2022

 

Victorian Plumbing Group plc

("Victorian Plumbing" or the "Company")

 

PDMR LTIP AWARDS

 

Victorian Plumbing Group plc (AIM: VIC), the UK's leading online retailer of
bathroom products and accessories, 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 29 March 2022, awards over shares (the "Awards") were made under the
Victorian Plumbing Group plc Long Term Incentive Plan (the "Plan"),
consequently, the share interests of the under-noted directors and persons
discharging managerial responsibility have changed following the making of the
Awards.

 

The Awards, made for nil consideration, are nil-cost options established in
accordance with the rules of the Plan and vesting is subject to adjusted
earnings per share ("EPS") (75% of each Award) and total shareholder return
("TSR") targets (25% of each Award), measured over the three year performance
period ending 30 September 2024. A further two year holding period will apply
following the vesting date.

 

 

 Director/PDMR   Role                     Number of shares over which Awards made
 Mark Radcliffe  Chief Executive Officer  143,129*
 Paul Meehan     Chief Financial Officer  180,343*

*As stated in the Admission Document at the time of IPO, the first set of
awards under the Plan will be based on the Placing Price of 262p.

 

There were 325,062,985 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  - 143,129
                                               Nil       PAUL MEEHAN - 180,343

 

 (d)  Aggregated information                   n/a

 (e)  Date of the transaction                  29 MARCH 2022

 (f)  Place of the transaction                 Outside a trading venue

 

 

(d)

Aggregated information

n/a

 

(e)

Date of the transaction

29 MARCH 2022

 

(f)

Place of the transaction

Outside a trading venue

 

 

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

 FTI Consulting (Financial PR)                +44 20 3727 1000

 Alex Beagley                                 VictorianPlumbing@fticonsulting.com

                                            (mailto:VictorianPlumbing@fticonsulting.com)
 Eleanor Purdon

 Sam Macpherson

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

 Sam Fuller, Tim Richardson, Paul Lines

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

 Nicola Tennent, Stuart Muress

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

 Luke Bordewich, Tom Jacob, Oliver Steele

 

About Victorian Plumbing Group

 

Victorian Plumbing is the UK's leading online retailer of bathroom products
and accessories, offering a wide range of over 24,000 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 focus on
online channels to drive significant and growing traffic to its website.

 

Headquartered in Skelmersdale, Lancashire, the Group employs over 500 staff
across seven locations in Skelmersdale, Manchester and Birmingham.

 

 

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