Director/PDMR Shareholding

RNS Number : 2129D
Vertu Motors PLC
25 June 2021
 

25 June 2021

Vertu Motors plc

(the "Company")

Notification of Directors' interests

 

The Company announces that the Company made grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to directors of the Company ("Options") .   The Options were made under the Partnership Share Scheme, part of the Company's Long Term Incentive Plan, and are a percentage of target earnings calculated using the Company's closing share price at the date prior to the date of grant.  The Options were issued on 24 June 2021 as detailed below: 

 

 

 

 

Director

Number of Ordinary Shares subject to the Options

 

Resultant number of Ordinary Shares subject to options

 

Beneficial holding of Ordinary Shares excluding options

 

Robert Forrester

443,451

443,451

7,444,181

David Crane

             249,480

1,263,063

255,952

Karen Anderson

             249,480

1,179,480

1,012,513

 

Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the current financial year, and vested Options are then subject to a further three-year holding period before they can be exercised.   

The Company's issued share capital consists of 369,173,981 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury.

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

ROBERT FORRESTER

2. 

Reason for the notification

ISSUE OF OPTIONS

a) 

Position/status

CEO

b) 

Initial notification/Amendment

INITIAL NOTIFICATION

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) 

Name

VERTU MOTORS PLC

b) 

LEI

213800GIKJEIUIGMI575

4. 

Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted

a) 

Description of the financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

b) 

Nature of the transaction

ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN

c) 

Price(s) and volume(s)

 

Price

Volume(s)

NIL

443,451

 

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

24 June 2021

f) 

Place of transaction

OUTSIDE A TRADING VENUE

 

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

DAVID CRANE

2. 

Reason for the notification

ISSUE OF OPTIONS

b) 

Position/status

COO

c) 

Initial notification/Amendment

INITIAL NOTIFICATION

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) 

Name

VERTU MOTORS PLC

b) 

LEI

213800GIKJEIUIGMI575

4. 

Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted

a) 

Description of the financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

b) 

Nature of the transaction

ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN

c) 

Price(s) and volume(s)

 

Price

Volume(s)

NIL

249,480

 

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

24 June 2021

f) 

Place of transaction

OUTSIDE A TRADING VENUE

 

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

KAREN ANDERSON

2. 

Reason for the notification

ISSUE OF OPTIONS

a) 

Position/status

CFO

b) 

Initial notification/Amendment

INITIAL NOTIFICATION

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a) 

Name

VERTU MOTORS PLC

b) 

LEI

213800GIKJEIUIGMI575

4. 

Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (vi) each place where transactions have been conducted

a) 

Description of the financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

b) 

Nature of the transaction

ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN

c) 

Price(s) and volume(s)

 

Price

Volume(s)

NIL

249,480

 

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

24 June 2021

f) 

Place of transaction

OUTSIDE A TRADING VENUE

 

- Ends -

For further information please contact:

Vertu Motors plc

 

Robert Forrester, CEO

Tel: 0191 491 2121

Karen Anderson, CFO

Tel: 0191 491 2121

Zeus Capital Limited

 

Jamie Peel

Andrew Jones

Dominic King

Tel: 020 3829 5000

Camarco

 

Billy Clegg

Tom Huddart

Tel: 020 3757 4983

 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 149 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 145 franchised sales outlets and 4 non-franchised sales operations from 115 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".

Vertu Motors Group websites -  www.vertucareers.com

Vertu brand websites - www.vertumotors.com / 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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Companies

Vertu Motors (VTU)
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