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Victoria PLC terminates contract for differences
29 Jul '14
1 min read
Victoria PLC, the international designers, manufacturers and distributors of floorcoverings, announces the termination of the Contract, effective the close of business on 28 July 2014. Consequently, Victoria is liable to make a cash payment to Camden Holdings Limited ("Camden").
Camden and Victoria have agreed the liability of Victoria will be satisfied by way of set off by the issuance of 7,087,730 Ordinary Shares within the following 90 days. The issuance of these shares will result in the total number of Ordinary Shares in issue and the total number of voting rights doubling to 14,175,460.
A further announcement will be made at the date the additional shares are issued.
Camden is a company owned by The Camden Trust of which Mr. Wilding, Executive Chairman, is the settlor and a discretionary beneficiary. All definitions contained in this announcement have the same meaning as those defined in the circular to shareholders dated 20 June 2014.
Victoria PLC
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