VCP Victoria Plc

TIDMVCP

RNS Number : 6149C

Victoria PLC

19 March 2014

19 March 2014

Victoria PLC

('Victoria' or the 'Company')

Sale and Leaseback of Property

Victoria PLC, (LSE: VCP) the manufacturer and distributor of floorcoverings, today announces that it has entered into a sale and leaseback agreement with Monopro Limited in respect of its manufacturing facility at Worcester Road, Kidderminster for GBP5.8 million cash. The lease is for a 20 year term at an initial rent of GBP495,000 per annum and subject to annual RPI uplifts between 0 per cent. and 4 per cent..

The current net book value of the property is approximately GBP4.9 million resulting in a profit on sale (after associated costs) of approximately GBP0.7 million. Proceeds will be used to strengthen the Company's balance sheet.

- Ends -

For more information contact:

 
 Victoria PLC                      +44 (0) 15 
  Geoff Wilding                     6274 9300 
 
   Cantor Fitzgerald Europe 
   Rick Thompson, David Foreman 
   (Corporate finance) 
   Richard Redmayne (Corporate       +44 (0) 20 
   broking)                          7894 7000 
 
   MHP 
   Nick Denton                       +44 (0) 20 
   Vicky Watkins                     3128 8100 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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