Not a Leicestershire sign but one made by the Royal Label Factory
From Graces Guide:
Royal Label Factory of Stratford upon Avon
1874 Established to make labels for Queen Victoria’s gardens at Sandringham.
Continued as part of the Ministry of Public Building and Works, supplying up to half of the signposts and fingerposts for counties and town councils in the 1930s
c.1963 The Royal Label Factory moved to Chipping Norton, where it provided a ‘Design & Build’ service for traffic signs and street furniture for construction companies all over the UK as well as for a large number of local authorities, including their core client, Oxfordshire County Council.
Now part of Leander Architectural