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Share Name Share Symbol Market Type Share ISIN Share Description
Victoria Plc LSE:VCP London Ordinary Share GB00BZC0LC10 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -15.00 -2.24% 655.00 640.00 670.00 665.00 655.00 665.00 2,162 08:26:31
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 574.4 -3.7 -6.4 - 819

Victoria PLC Result of General Meeting

16/11/2020 1:15pm

UK Regulatory (RNS & others)


TIDMVCP

RNS Number : 4589F

Victoria PLC

16 November 2020

 
 For Immediate Release   16 November 2020 
 

Victoria PLC

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

Result of General Meeting: All Resolutions passed

Koch Equity Development Preferred Equity Investment completed

The board of Victoria PLC (LSE: VCP) the international designers, manufacturers and distributors of innovative flooring, is pleased to announce that at the General Meeting held at noon today, all of the Resolutions were duly passed.

All votes received in relation to resolutions at the General Meeting are now available to view on the Company's website: https://www.victoriaplc.com/preferred-equity-investment/

Koch Equity Development Preferred Equity Investment

As previously announced, on 30 October 2020 the Company signed a conditional investment agreement whereby KED Victoria Investments, LLC, an affiliate of Koch Equity Development, LLC, a wholly owned subsidiary of Koch Industries, Inc., committed to invest a total of GBP175 million by way of convertible preferred shares to be issued by Victoria (the "Preferred Equity Investment"). GBP75 million will be invested immediately; the balance at Victoria's request at any time in the next 18 months.

The Preferred Equity Investment was conditional upon shareholder approval and, following the passing of all resolutions at today's General Meeting, the Company is pleased to announce the completion of this transaction.

Executive Chairman Geoff Wilding commented:

"Firstly, I would like to thank shareholders for their support with over 85% of shareholders voting and, of those, 99% voting in favour of the investment by Koch Equity Development. This investment will enable Victoria to accelerate its growth plans to acquire up to GBP100 million of EBITDA, which will be truly transformational for the company in terms of per share earnings and cash flow."

 
                                - Ends - 
                      For more information contact: 
                               Victoria PLC 
                          Geoff Wilding, Chairman 
                  Philippe Hamers, Group Chief Executive 
   Michael Scott, Group Finance Director           +44 (0) 1562 749 610 
                N+1 Singer (Nominated Adviser and Broker) 
   Rick Thompson, Phil Davies, Alex Bond           +44 (0) 207 496 3000 
                         Berenberg (Joint Broker) 
               Ben Wright, Mark Whitmore (Corporate Broking) 
                         Peel Hunt (Joint Broker) 
   Adrian Trimmings, Andrew Clark                  +44 (0) 203 207 7800 
   Buchanan Communications (Financial PR)           +44 (0) 207 418 8900 
   Charles Ryland, Chris Lane, Tilly Abraham        +44 (0) 20 7466 5000 
 

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END

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November 16, 2020 08:15 ET (13:15 GMT)

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