REG - Victoria PLC - 2026 SSNs vote in favour of extending maturity

VictoriaAnnouncement

08/08/2025 07:00

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RNS Number : 5777U  Victoria PLC  08 August 2025

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of MAR

 

Victoria PLC

('Victoria' or the 'Company')

 

Victoria Plc confirms success of its recently announced exchange transaction
following receipt of the support of 97.3% of 2026 SSNs, extending their
maturity to 2029

 

Victoria PLC, (LSE: VCP) the international designer, manufacturer, and
distributor of innovative flooring, is pleased to announce that 97.3% of its
outstanding 2026 senior secured notes have voted in favour of extending
maturity until August 2029 on attractive terms. This transaction follows the
recent successful refinancing announcement of its Super Senior Revolving
Credit Facility (collectively the "Refinancing").

 

Formal completion will take place upon expiry of the mandatory 20 US business
day offer period later this month.

 

The Refinancing is an important milestone for the Company and all its
stakeholders. It:

·      Provides additional liquidity, which will increase operational
flexibility to accelerate self-help cost savings

·      Removes all significant short-term maturities to provide a
significantly extended maturity profile

·      Maximises near-term cash flow to invest in growth and margin
improvement initiatives

·      Delivers a strong, long-term solution to the Company's capital
structure, providing confidence for all partners and external stakeholders

·      Does not dilute equity holders

 

Alec Pratt, CFO, commented:

"The strong support received from our 2026 SSN noteholders demonstrates
confidence in Victoria's credit and outlook. By delivering a comprehensive
refinancing of our short-term maturities we have provided certainty for all of
our stakeholders and established firm foundations from which to continue
executing our cost-saving and strategic growth plans."

 

 

Cautionary Statement

This announcement and the information contained herein are for information
purposes only and do not constitute a prospectus or an offer to sell, or a
solicitation of an offer to buy or subscribe for, any securities in the United
States of America or in any other jurisdiction.

 

This press release does not constitute or form part of and should not be
construed as (i) a tender or exchange offer for, or an offer to sell, or a
solicitation of an offer to buy and securities or (ii) an offer of, an
invitation to offer, or a solicitation of an offer to buy, securities for sale
in the United States of America or in any other jurisdiction or an inducement
to enter into investment activity. No part of this press release, nor the fact
of its distribution, should form the basis of, or be relied on in connection
with, any contract or commitment or investment decision whatsoever.

 

This announcement contains inside information within the meaning of Regulation
(EU) No 596/2014 of 16 April 2014 on market abuse.

 

Forward Looking Statements

This announcement includes "forward-looking statements". Forward-looking
statements are based on the Company's beliefs and assumptions and on
information currently available to the Company, and include, without
limitation, statements regarding the Company's business, financial condition,
strategy, results of operations, certain of the Company's plans, objectives,
assumptions, expectations, prospects and beliefs and statements regarding
other future events or prospects. Forward-looking statements include all
statements that are not historical facts and can be identified by the use of
forward-looking terminology such as the words "believe," "expect," "plan,"
"intend," "seek," "anticipate," "estimate," predict," "potential," "assume,"
"continue," "may," "will," "should," "could," "shall," "risk" or the negative
of these terms or similar expressions that are predictions of or indicate
future events and future trends. By their nature, forward-looking statements
involve risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. You are cautioned that
forward-looking statements are not guarantees of future performance and that
the Company's actual results of operations, financial condition and liquidity
and the development of the industry in which the Company operates may differ
materially from those made in or suggested by the forward-looking statements
contained in this press release. The Company undertakes no obligation, and
does not intend to update these forward-looking statements.

 

 

 

For further information, please contact the Company's financial advisor Lazard
& Co (victoriaplc@lazard.com).

 

The person responsible for arranging the release of this announcement

on behalf of the Company is Alec Pratt, Chief Financial Officer

 

 

For more information contact:

 

 Victoria PLC                                                    www.victoriaplc.com/investors-welcome

                                                               (http://www.victoriaplc.com/investors-welcome)
 Geoff Wilding, Executive Chairman

                                                               Via Walbrook PR
 Philippe Hamers, Chief Executive Officer

 Alec Pratt, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser & Joint Broker)       +44 (0)20 7496 3095

 Rick Thompson, Phil Davies, James Fischer

 Berenberg (Joint Broker)                                        +44 (0)20 3207 7800

 Ben Wright, Harry Nicholas, Tom Ballard

 Walbrook PR (Joint Investor Relations)                          +44 (0)20 7933 8780 or victoria@walbrookpr.com

                                                               (mailto:victoria@walbrookpr.com)
 Paul McManus, Alice Woodings

                                                                 +44 (0)7980 541 893 / +44 (0)7407 804 654

 Edelman Smithfield (Joint Investor Relations)                   +44 (0)7970 174 252 or

 Alex Simmons                                                    alex.simmons@edelmansmithfield.com (mailto:alex.simmons@edelmansmithfield.com)

+44 (0)7970 174 252 or

alex.simmons@edelmansmithfield.com (mailto:alex.simmons@edelmansmithfield.com)

 

About Victoria PLC (www.victoriaplc.com (http://www.victoriaplc.com) )

 

Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L),
Victoria PLC, is an international manufacturer and distributor of innovative
flooring products. The Company, which is headquartered in Worcester, UK,
designs, manufactures and distributes a range of carpet, flooring underlay,
rugs, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring
accessories.

 

Victoria has operations in the UK, Spain, Italy, Belgium, the
Netherlands, Germany, Turkey, the USA, and Australia and employs
approximately 5,350 people across more than 30 sites. Victoria is Europe's
largest carpet manufacturer and the second largest in Australia, as well as
the largest manufacturer of underlay in both regions.

 

The Company's strategy is designed to create value for its shareholders and is
focused on consistently increasing earnings and cash flow per share via
acquisitions and sustainable organic growth.

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