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 |
| ||||||
| (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 Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer
| via FTI Consulting +44 20 3727 1000 |
| | |
| FTI Consulting (Financial PR) Alex Beagley Eleanor Purdon Sam Macpherson
| +44 20 3727 1000 |
| Houlihan Lokey UK Ltd (Nominated Adviser) Sam Fuller, Tim Richardson, Paul Lines | +44 20 7484 4040 |
| | |
| Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress | +44 20 7623 2323 |
| | |
| Numis Securities Limited (Joint Broker) Luke Bordewich, Tom Jacob, Oliver Steele | +44 20 7260 1000 |
| | |
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.