SENIOR MANAGEMENT APPOINTMENT & GRANT OF OPTIONS-VICTORIA PLC

SENIOR MANAGEMENT APPOINTMENT & GRANT OF OPTIONS-VICTORIA PLC

Senior management appointment and related grant of new options

 

Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of innovative flooring, announces the appointment of Roberto Moreno as the Group Chief Strategy Officer, and PDMR in the Company, along with details of his long-term incentive plan.

 

Roberto brings 16 years of experience in banking, investing, mergers and acquisitions and corporate value creation across a wide range of industries in the United States and Europe. Over the past three years, Roberto has led Victoria's acquisition-based growth in North America, where Victoria now has over $350 million in distribution revenue across several flooring categories.

 

Prior to joining Victoria, Roberto was a Managing Director at Sandton Capital Partners, a global private equity firm focused on special situations across the UK, Europe and North America. At Sandton, Roberto launched and led the firm's Spain presence, orchestrating several successful investments and delivering exceptional returns to investors. He served as Executive Chairman at Neoelectra, a prominent Spain-based power producer, where he led its dramatic profit growth, quadrupling the enterprise value from acquisition to divestiture through organic growth strategies and targeted acquisitions across Europe and Latin America. Subsequent to this, Roberto was Chief Investment Officer at E.L. Rothschild, a family investment company with holdings in media, wealth management, infrastructure, real estate, agriculture and consumer goods. Roberto started his career as an investment banker at Deutsche Bank's New York office. Roberto holds an Economics degree from the University of Pennsylvania and is fluent in English and Spanish.

 

Grant of new options

 

A new long-term incentive plan has been established for Roberto Moreno, comprising:

 

(i)            a fair market value option for 1,067,481 Ordinary shares of £0.05 each in the capital of the Company with an exercise price of £2.335 per Ordinary Share; and

(ii)           a par value option for 720,000 Ordinary Shares, with an exercise price of £0.05 per Ordinary Share.

 

The options will vest equally on a quarterly basis over a period from March 2024 to September 2026 as long as Mr Moreno remains employed by the Group. The fair market value option may be exercised up until the tenth anniversary of the date that the options were granted and the par value option may be exercised up until 31 December 2027.

 

Geoff Wilding, Chairman of Victoria PLC, commented on Roberto Moreno's appointment:

"Roberto's extensive experience and proven track record in driving strategic growth and delivering results make him an invaluable addition to Victoria's senior management team. His leadership and expertise will play a crucial role in advancing our strategic initiatives and operational excellence projects - further solidifying our position as a leader in the global flooring industry. We are excited to welcome Roberto to his new role and look forward to the impactful contributions he will undoubtedly make."

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Roberto Moreno

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial notification

3 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Victoria plc

b)

LEI

2138002K6ECECHVCQN25

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 transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Grant of options to subscribe for Ordinary shares of 5 pence each in Victoria plc

GB00BZC0LC10

b) 

Nature of the transaction

LTIP Share Scheme

 

 Each c)

Price(s) and volume(s)

 Price(s)

Volume(s)

£2.335

£0.05

1,067,481

720,000

 

 

d)

Aggregated information

 - Aggregated volume

 - Price

 

N/A - single transaction

 

e) 

Date of the transaction

15 March 2024 

f) 

Place of the transaction

Outside of a trading venue

 

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