EBT Share Purchase

RNS Number : 7488W

Vertu Motors PLC

13 December 2019

 

13 December 2019

Vertu Motors plc ("Vertu Motors" or "Company")

EBT Share Purchase

Vertu Motors announces that it was notified on 12 December 2019, of the following acquisition ("Dealing") in the Company's ordinary shares of 10p each ("Ordinary Shares") by Estera Trust (Jersey) Limited ("Trustee"), the trustee of the Company's employee benefit trust.  The Dealing took place on 12 December 2019 at a price of 40.06p per Ordinary Share:

The shares were purchased by the Trustee to be held for the purposes of the employee benefit trust, and may be used to transfer shares to individuals when options are exercised.  This could include the Company's Long Term Incentive Plan, under which each of the executive directors of the Company is a potential participant, and other share options and share schemes, under which other potential PDMRs are potential participants.  They are therefore regarded as having a notional interest in these shares.

	Beneficial holding of Ordinary Shares prior to the Dealing	% of issued share capital prior to the Dealing	Ordinary Shares acquired	Resultant Beneficial holding of Ordinary Shares after the Dealing	Resultant % of issued share capital after the Dealing
Trustee	1,071,851	0.29	1,000,000	2,071,851	0.56

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	ESTERA TRUST (JERSEY) LIMITED
2.	Reason for the notification	ACQUISITION OF SHARES
a)	Position/status	EBT TRUSTEE
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 IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES GB00B1GK4645
b)	Nature of the transaction	PURCHASE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
c)	Price(s) and volume(s) Price Volume(s) £0.4006 1,000,000
d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	12 DECEMBER 2019
f)	Place of transaction	AIM

- Ends -

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Karen Anderson, CFO	Tel: [phone] Tel: [phone]
Zeus Capital Limited Jamie Peel Andrew Jones Dominic King	Tel: [phone]
Camarco Billy Clegg Tom Huddart	Tel: [phone]

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 123 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 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.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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