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Victorian Plumbing Group plc made awards under its Long Term Incentive Plan (LTIP). On 22 February 2023, nil-cost options over 661,725 shares were awarded to CEO Mark Radcliffe and 208,443 shares to CFO Paul Meehan. These awards, made for nil consideration, are subject to an adjusted earnings per share target over a performance period ending 30 September 2025, followed by a two-year holding period.
| Date | 24 Feb 2023 |
| Time | 07:00:04 |
| Category | Director/PDMR dealings |
| ID | 9013Q |
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.
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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).
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1. |
Details of PDMR |
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(a) |
Name |
MARK RADCLIFFE PAUL MEEHAN |
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2. |
Reason for notification |
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(a) |
Position/Status |
MARK RADCLIFFE - CHIEF EXECUTIVE OFFICER PAUL MEEHAN - CHIEF FINANCIAL OFFICER |
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(b) |
Initial notification / amendment |
Initial Notification
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3. |
Details of the Issuer |
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(a) |
Name |
VICTORIAN PLUMBING GROUP PLC
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(b) |
LEI |
894500R59II0S4WXGZ04
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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 |
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(a) |
Description of the financial instrument |
Ordinary shares of £0.001 each
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(b) |
Nature of the transaction |
Awards made pursuant to the Victorian Plumbing Group plc Long Term Incentive Plan ("LTIP")
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(c) |
Price(s) and volume |
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(d) |
Aggregated information |
n/a
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(e) |
Date of the transaction |
22 FEBRUARY 2023
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(f) |
Place of the transaction |
Outside a trading venue
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-ENDS-
For further information, please contact:
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Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer Daniel Barton, Director of Finance and Company Secretary
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via FTI Consulting +44 20 3727 1000 |
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FTI Consulting (Financial PR) Alex Beagley, Eleanor Purdon, Harriet Jackson, Amy Goldup
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+44 20 3727 1000 |
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Houlihan Lokey UK Ltd (Nominated Adviser) Sam Fuller, Tim Richardson |
+44 20 7484 4040 |
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Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress |
+44 20 7623 2323 |
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Numis Securities Limited (Joint Broker) Luke Bordewich, Oliver Steele |
+44 20 7260 1000 |
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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.