Home / Knowledge / News / Textiles / Victoria PLC declares special dividend of £2.92/share
Victoria PLC declares special dividend of £2.92/share
10
Jul '14
Victoria PLC, the international designers, manufacturers and distributors of floorcoverings, is announces that all resolutions were duly passed at the General Meeting held.
 
As a result a special dividend of £2.92 per Existing Ordinary Share ("Special Dividend"), announced on 23 June 2014, will be paid on 25 July 2014 to shareholders on the register as at 18 July 2014.
 
Commenting on the General Meeting, Andrew Harrison, Senior Independent Non-Executive Director of Victoria PLC, said: "The Board is pleased that such an overwhelming number of shareholders have voted in favour of the resolutions and look forward to further building the business as well as delivering additional returns to shareholders in the future."
 
In February 2013 Victoria's shareholders approved the terms of a contract for differences which was subsequently entered into by the Company on 19 April 2013 (the "Contract"). The payment of the Special Dividend will entitle Camden Holdings Limited ("Camden"), the owner of the Contract to terminate the Contract, which will oblige the Company to make a cash payment pursuant to the terms of the Contract ("Cash Amount"). Camden is a company owned by The Camden Trust of which Mr. Wilding, Executive Chairman, is the settlor and a discretionary beneficiary.  
 
Camden has agreed with the Company that, upon termination of the Contract, it will, upon exercise of the call option under the Conditional Option Agreement, re-invest the entire cash amount in subscribing for New Ordinary Shares. This will result in the issue of 7,087,730 New Ordinary Shares to Camden, which will represent 50.00% of the enlarged issued share capital of the Company. Camden is considered by the Panel to be acting in concert with the existing Concert Party (the "Wider Concert Party"). The issue of the New Ordinary Shares will result in the Wider Concert Party having an aggregate interest in 8,683,281 Ordinary Shares representing 61.26% of the Enlarged Issued Share Capital.
 

Victoria PLC


Must ReadView All

Apparel/Garments | On 21st Jul 2017

Walmart opens new fulfillment centre in Davenport

Walmart has opened a new e-commerce fulfillment centre in Davenport,...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X