Statement re Victoria PLC (5584V)
13 Janeiro 2012 - 1:02PM
UK Regulatory
TIDMVCP
RNS Number : 5584V
Alexander Anton
13 January 2012
13 January 2012
Alexander Anton
Statement re Victoria PLC
("Victoria" or the "Company")
New Fortress Finance Holding and Alexander Anton confirm that,
following a meeting with Victoria PLC this morning, they have today
issued a formal requisition requiring the board of the Company to
call a General Meeting of shareholders. The purpose of the meeting
will be to seek the removal of the two non-executive directors,
Nikki Beckett and Peter Jensen, and the appointment of four new
non-executive directors, Katherine Innes Ker, Geoff Wilding,
Alexander Anton and Sir Bryan Nicholson (the "Proposed Directors"),
with Katherine Innes Ker as Chairman. The new directors propose to
work with the existing executive directors and management team.
This requisition already has the support of shareholders
representing approximately 46% of the issued share capital of the
Company, comprising Victoria's largest institutional shareholder,
New Fortress Finance Holding (18.3%), and certain members of the
founding Anton family.
The Proposed Directors said:
"We are surprised by the timing and nature of today's
announcement by Victoria given that shareholders with approximately
46% of the Company's share capital are supportive of the Board
changes proposed. We are gravely concerned that the Board's
response to this shareholder request is to commence a sales process
since we do not believe that shareholder value would be maximised
at this time. These actions suggest the Board is unwilling to
recognise the wishes of a practical majority of shareholders."
ENDS
Enquiries
Seymour Pierce (Financial advisor)
Jonathan Wright 020 7107 8000
Tom Sheldon
Brunswick Group
Kate Miller 020 7404 5959
Mazar Masud
Notes to editors
Biographies
Katherine Innes Ker, a former Director of SBC Warburg and media
analyst, has extensive non-executive experience at well-known FTSE
companies. She is currently non-executive director of the Go-Ahead
Group, St Modwen Properties and Tribal Group and has held
non-executive positions at companies including Taylor Wimpey,
Fibernet and Shed Media Limited and Ordinance Survey.
Geoff Wilding has a track record of creating value and has
developed and grown a number of companies over the last 15 years. A
former investment banker, he set up his own investment company in
New Zealand in 1989. His first investment was a highly successful
aggregation of the road transport industry, which was sold in 1996
in a MBO. He sold his last company in a A$220m transaction to a
private equity firm. Geoff is a shareholder in Flooring Brands
Limited, one of the largest Australasian flooring retailers.
Alexander Anton, a member of the founding family of Victoria,
was non-executive director and Chairman to the UK business before
being appointed to the main Board in 1995 and Chairman in 2007,
stepping down in 2010. In addition to his extensive knowledge of
the business, he has track record of growing successful businesses
and is currently Chairman of Legacy Portfolio. He was formerly
Chairman of The Queen's Club, leading the successful Members' Bid
to acquire the club from the Lawn Tennis Association in May
2007.
Sir Bryan Nicholson is a former President of the CBI and a
former Chairman of BUPA, Cookson Group plc, the Post Office and
Rank Xerox (UK) Limited. He also chaired the Manpower Services
Commission, the Financial Reporting Council, and the Council of the
Open University and has been a non-executive director of GKN plc
and LucasVarity plc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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