Notification of Director's interests

RNS Number : 6567K

Vertu Motors PLC

22 December 2022

 

22 December 2022

Vertu Motors plc

(the "Company")

Notification of Director's interests

The Company announces that it was notified on 19 December 2022 that David Crane, a director and person discharging managerial responsibility in the Company , had exercised nil-cost options over  53,583 ordinary shares of 10p each in the Company ("Ordinary Shares"), on 19 December 2022, that were issued in August 2013 under the Vertu Long Term Incentive Plan. The option exercises were satisfied via a transfer of Ordinary Shares from the Company's Employee Benefit Trust.

The Company has also been notified that David Crane sold 25,237 of the 53,583 Ordinary Shares exercised, to satisfy the resultant income tax and National Insurance liability.  The sale took place on 19 December 2022 at a price of 51.28 pence per Ordinary Share.

PDMR	Beneficial holding of Ordinary Shares prior to the Dealings*	% of issued share capital prior to the Dealings*	Ordinary Shares acquired by PDMR**	Resultant Beneficial holding of Ordinary Shares after the Dealings*	Resultant % of issued share capital after the Dealings*
David Crane	437,133	0.13%	28,346	465,479	0.13%

* includes shares held by persons closely associated with the PDMR.

** net amount after the sale to satisfy tax and NI liability.

The Company's issued share capital consists of 348,945,522 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	DAVID CRANE
2.	Reason for the notification	ACQUISITION OF SHARES
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
d)	Name	VERTU MOTORS PLC
e)	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
f)	Description of the financial instrument, type of instrument identification code Identification code	ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645
g)	Nature of the transaction	EXERCISE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT
h)	Price(s) and volume(s) Price Volume(s) NIL 53,583
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	19 DECEMBER 2022
k)	Place of transaction	OFF MARKET

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	DAVID CRANE
2.	Reason for the notification	SALE OF SHARES
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
d)	Name	VERTU MOTORS PLC
e)	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
f)	Description of the financial instrument, type of instrument identification code Identification code	ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645
g)	Nature of the transaction	SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN
h)	Price(s) and volume(s) Price Volume(s) 0.5128 25,237
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	19 DECEMBER 2022
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

- ENDS -

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Karen Anderson, CFO Phil Clark, Investor relations	Tel: [phone] [e-mail]
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 fourth largest automotive retailer in the UK with a network of 192 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu 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 188 franchised sales outlets and 4 non-franchised sales operations from 142 locations across the UK.

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

Vertu Motors Group websites - https://investors.vertumotors.com/ / www.vertucareers.com

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcyles.com

 

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