Victoria PLC Management Incentive Plan (9450W)
03 Maio 2016 - 3:01AM
UK Regulatory
TIDMVCP
RNS Number : 9450W
Victoria PLC
03 May 2016
3 May 2016
Victoria PLC
('Victoria' or the 'Company')
Management Incentive Plan
The Board of Victoria PLC (the "Company") (LSE: VCP) the
international designers, manufacturers and distributors of
innovative floorcoverings, is pleased to announce proposals for a
new long term management incentive plan (the "Plan").
The Plan is not open for participation by Geoff Wilding,
Executive Chairman, nor any other member of the current board, save
for Michael Scott, Chief Financial Officer. On 29 April 2016, Mr
Scott was awarded 5,000 B ordinary shares (the "B Shares") in a new
intermediate holding company, in connection with the Plan as
recommended by the Remuneration Committee. Between the second and
third anniversary of his joining the Company Mr Scott will be able
to exchange the B Shares into ordinary shares in Victoria PLC
("Ordinary Shares") of equivalent value. The monetary value of the
award represents approximately 0.61% of the growth in value of the
Ordinary Shares above a share price of GBP15. The Plan is subject
to good leaver and bad leaver provisions and is closely aligned
with the interests of the Company's shareholders.
As Mr Scott is a director of the Company the proposed award is
classified as a related party transaction in accordance with Rule
13 of the AIM Rules for Companies. The Board, with the exception of
Mr Scott, has consulted with the Company's nominated adviser,
Cantor Fitzgerald Europe, and concluded that the proposed award is
fair and reasonable insofar as the interests of the shareholders
are concerned.
For more information contact:
Victoria PLC
Geoff Wilding, Executive Chairman
Michael Scott, Group Finance +44 (0) 15
Director 6274 9300
Cantor Fitzgerald Europe
Rick Thompson, Phil Davies,
Michael Reynolds (Corporate +44 (0) 20
Finance) 7894 7000
Buchanan Communications +44 (0) 20
Charles Ryland, Jane Glover 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 03, 2016 02:01 ET (06:01 GMT)
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