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On 12 January 2024, Victorian Plumbing Group plc made awards over Ordinary Shares under its Long Term Incentive Plan (LTIP). CEO Mark Radcliffe received options over 422,060 Ordinary Shares with an exercise price at nominal value, while CFO Daniel Barton received nil cost options over 405,177 Ordinary Shares; both awards were for nil consideration.
| Date | 12 Jan 2024 |
| Time | 10:14:21 |
| Category | Director/PDMR dealings |
| ID | 5448Z |
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 £0.001 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.
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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).
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1. |
Details of PDMR |
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(a) |
Name |
MARK RADCLIFFE DANIEL BARTON |
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2. |
Reason for notification |
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(a) |
Position/Status |
MARK RADCLIFFE - CHIEF EXECUTIVE OFFICER DANIEL BARTON - 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 ("Ordinary Shares")
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(b) |
Nature of the transaction |
Awards made pursuant to the Victorian Plumbing Group plc Long Term Incentive Plan
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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 |
12 January 2024
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(f) |
Place of the transaction |
Outside a trading venue
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-ENDS-
Enquiries:
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Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Daniel Barton, Chief Financial Officer
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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 7839 3355 |
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Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress |
+44 20 7623 2323 |
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Deutsche Numis (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 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/