Board Appointment

RNS Number : 7903V

Vertu Motors PLC

26 July 2018

 

26 July 2018

Vertu Motors plc ("Vertu Motors" or the "Group")

Board Appointment

Vertu Motors plc, the automotive retailer with a network of 125 sales outlets across the UK, is pleased to announce the appointment of Mr. David Paul Crane (aged 50), as an Executive Director of the Company with immediate effect.

David joined Vertu Motors at its inception in 2007 and has 25 years of experience in the automotive sector, both with manufacturers and retailers. David is currently the Group's Chief Operations Officer, having been appointed to this role in 2017.  Prior to joining Vertu Motors, David was Commercial Director of Reg Vardy plc. In his position at Vertu Motors, David is responsible for the management and running of the Group's operations infrastructure, including all of the central aftersales support, IT, purchasing, fleet sales and ancillary business activities as well as two operational franchised dealership divisions.

Robert Forrester, CEO of Vertu Motors said:

"David is a key member of the team which has built Vertu Motors from an idea 12 years ago to the reality of being the UK's sixth largest automotive retailer.  David has been instrumental in the operational and strategic development of the Group and the Board will be strengthened by his appointment."

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

David holds 158,397 ordinary shares of 10p each in the Group ("Ordinary Shares") and 760,000 share options over Ordinary Shares. As part of the Group's long-term incentive plan ("LTIP"), David has been granted 222,331 share options over Ordinary Shares, which have not yet vested and remain subject to certain performance criteria and 53,583 share options over Ordinary Shares which have vested but not yet been exercised.

David holds, or has held in the past 5 years, the directorships and partnerships that are listed below:

Current Directorships or Partnerships:	Previous Directorships or Partnerships:
Aceparts Limited	N/A
Albert Farnell Limited
All Car Parts Limited
Blacks Autos Limited
Blake Holdings Limited
Boydslaw 103 Limited
Bristol Street Commercials (Italia) Limited
Bristol Street Fifth Investments Limited
Bristol Street First Investments Limited
Bristol Street Fourth Investments Limited
Bristol Street Group Limited
Brookside (1998) Limited
Compare Click Call Limited
Dobies (Carlisle) Limited
Dunfermline Autocentre Limited
Easy Vehicle Finance Limited
Gordon Lamb Group Limited
Gordon Lamb Holdings Limited
Gordon Lamb Limited
Grantham Motor Company Limited
Greenoaks (Maidenhead) Limited
Hillendale Group Limited
Hillendale LR Limited
Hughes Group Holdings Limited
Hughes of Beaconsfield Limited
International Concessionaires Limited
KC Mobility Solutions Limited
Macklin Property Limited
Motor Nation Car Hypermarkets Limited
Newbolds Garage (Mansfield) Limited
Northolme Properties Limited
SHG Holdings Limited
Sigma Holdings Limited
South Hereford Garages Limited
The Taxi Centre Limited
Typocar Limited
Vertu Fleet Limited
Vertu Motors (Chingford) Limited
Vertu Motors (Durham) Limited
Vertu Motors (Knaresborough) Limited
Vertu Motors (Pity Me) Limited
Vertu Motors (Property 2) Holdings Limited
Vertu Motors (Property) Limited
Vertu Motors (Retail) Limited
Vertu Motors (VMC) Limited
Vertu Motors Property 2 Holdings Limited
Vertu Motors Third Limited
Why Pay More For Cars Limited
Widnes Car Centre (1994) Limited
Widnes Car Centre Limited

Save as disclosed above, there are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Michael Sherwin, CFO	Tel: [phone] Tel: [phone]
Canaccord Genuity Limited Chris Connors Henry Fitzgerald-O'Connor Richard Andrews	Tel: [phone]
Zeus Capital Limited Dominic King	Tel: [phone]
Camarco Billy Clegg Tom Huddart	Tel: [phone]

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 125 sales outlets across the UK.  Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.

Vertu Motors was established in November 2006 with the strategy to consolidate the UK motor retail sector.  It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group.  The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Group currently operates 122 franchised sales outlets and 3 non-franchised sales operations from 106 locations across the UK.

Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com

 

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