Victorian Plumbing Group PLC Director / PDMR LTIP Awards (5448Z)

TIDMVIC

RNS Number : 5448Z

Victorian Plumbing Group PLC

12 January 2024

12 January 2024

Victorian Plumbing Group plc

("Victorian Plumbing")

Director / PDMR LTIP Awards

Victorian Plumbing (AIM: VIC), the UK's leading 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 GBP0.001 each in the capital of Victorian Plumbing ("Ordinary Shares").

On 12 January 2024, awards over Ordinary Shares (the "FY24 Awards") were made under the Victorian Plumbing Group plc Long Term Incentive Plan (the "LTIP"). Following the making of the FY24 Awards, the Ordinary Share interests of the under-noted Directors / Persons Discharging Managerial Responsibility have changed.

The FY24 Awards under the LTIP, made for nil consideration, were:

(a) for Mark Radcliffe, options granted with an exercise price equivalent to the nominal value of an Ordinary Share; and

(b) for Daniel Barton, nil cost options.

 
 Director/PDMR     Role                       Number of Ordinary 
                                               Shares over which 
                                               Awards are made 
 Mark Radcliffe    Chief Executive Officer    422,060 
                  -------------------------  ------------------- 
 Daniel Barton     Chief Financial Officer    405,177 
                  -------------------------  ------------------- 
 

Vesting of the FY24 Awards is subject to an adjusted diluted earnings per share ("EPS") target measured over the three year performance period ending 30 September 2026. A two year holding period will apply following the vesting date.

There were 326,334,279 Ordinary Shares in issue at the time of this notification (not including those Ordinary Shares which may be issued in accordance with the FY24 Awards).

 
 1.    Details of PDMR 
 (a)   Name                           MARK RADCLIFFE 
                                       DANIEL BARTON 
      -----------------------------  ---------------------------------------- 
 2.    Reason for notification 
      ----------------------------------------------------------------------- 
 (a)   Position/Status                MARK RADCLIFFE - CHIEF EXECUTIVE 
                                       OFFICER 
                                       DANIEL BARTON - CHIEF FINANCIAL 
                                       OFFICER 
      -----------------------------  ---------------------------------------- 
 (b)   Initial notification /         Initial Notification 
        amendment 
      -----------------------------  ---------------------------------------- 
 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   Ordinary shares of GBP0.001 each 
        instrument                     ("Ordinary Shares") 
      -----------------------------  ---------------------------------------- 
 (b)   Nature of the transaction      Awards made pursuant to the Victorian 
                                       Plumbing Group plc Long Term Incentive 
                                       Plan 
      -----------------------------  ---------------------------------------- 
 (c)   Price(s) and volume             Price(s)   Volume(s) 
                                        Nil        MARK RADCLIFFE - Award 
                                                    over 422,060 Ordinary 
                                                    Shares 
                                                  ----------------------- 
                                        Nil        DANIEL BARTON - Award 
                                                    over 405,177 Ordinary 
                                                    Shares 
                                                  ----------------------- 
      -----------------------------  ---------------------------------------- 
 (d)   Aggregated information         n/a 
      -----------------------------  ---------------------------------------- 
 (e)   Date of the transaction        12 January 2024 
      -----------------------------  ---------------------------------------- 
 (f)   Place of the transaction       Outside a trading venue 
      -----------------------------  ---------------------------------------- 
 

-ENDS-

Enquiries:

 
 Victorian Plumbing Group plc                                   via FTI Consulting 
  Mark Radcliffe, Chief Executive Officer                         [phone] 
  Daniel Barton, Chief Financial Officer 
 FTI Consulting (Financial PR)                                    [phone] 
  Alex Beagley                                 [e-mail] 
  Eleanor Purdon 
  Harriet Jackson 
  Amy Goldup 
 Houlihan Lokey UK Ltd (Nominated Adviser) 
  Sam Fuller, Tim Richardson                                      [phone] 
 
 Barclays Bank PLC (Joint Broker) 
  Nicola Tennent, Stuart Muress                                   [phone] 
 
 Deutsche Numis (Joint Broker) 
  Luke Bordewich, Oliver Steele                                   [phone] 
 
 

About Victorian Plumbing Group

Victorian Plumbing is the UK's leading bathroom retailer, offering a wide range of over 34,000 products to B2C and trade customers. Victorian Plumbing offers its customers a one-stop shop solution for the entire bathroom with more than 130 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.

Headquartered in Skelmersdale, Lancashire, the Group employs over 600 staff across ten locations in Lancashire, Manchester and Birmingham.

   For more information, please visit   https://www.victorianplumbingplc.com/about-us/ 

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January 12, 2024 05:14 ET (10:14 GMT)