Victoria: what’s the Chairman up to now?
AIM quoted flooring and carpet manufacturer Victoria (LON:VCP) appears to be up its old financial engineering tricks.
First came news of a proposed £175m investment by Koch Industries in the Group to support “potentially exceptional acquisition possibilities”, this through a new issue of costly Convertible Preferred Shares. Now, bizarrely, comes news of a proposed share buy back.
We struggle to understand why on the one hand this heavily indebted…
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