TIDMVIC

RNS Number : 8402G

Victorian Plumbing Group plc

31 March 2022

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 GBP0.001 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 /         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 
      -----------------------------  ---------------------------------------- 
 (b)   Nature of the transaction      Awards made pursuant to the Victorian 
                                       Plumbing Group plc Long Term Incentive 
                                       Plan ("LTIP") 
      -----------------------------  ---------------------------------------- 
 (c)   Price(s) and volume             Price(s)   Volume(s) 
                                        Nil        MARK RADCLIFFE - 143,129 
                                                  ------------------------- 
                                        Nil        PAUL MEEHAN - 180,343 
                                                  ------------------------- 
      -----------------------------  ---------------------------------------- 
 (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                                   via FTI Consulting 
  Mark Radcliffe, Chief Executive Officer                              +44 20 3727 
  Paul Meehan, Chief Financial Officer                                        1000 
 
 FTI Consulting (Financial PR)                                         +44 20 3727 
  Alex Beagley                                                                1000 
  Eleanor Purdon                               VictorianPlumbing@fticonsulting.com 
  Sam Macpherson 
 Houlihan Lokey UK Ltd (Nominated Adviser)                             +44 20 7484 
  Sam Fuller, Tim Richardson, Paul Lines                                      4040 
 
 Barclays Bank PLC (Joint Broker)                                      +44 20 7623 
  Nicola Tennent, Stuart Muress                                               2323 
 
 Numis Securities Limited (Joint Broker)                               +44 20 7260 
  Luke Bordewich, Tom Jacob, Oliver Steele                                    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.

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END

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March 31, 2022 11:57 ET (15:57 GMT)

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