Notification of Directors' interests

RNS Number : 0818J
Vertu Motors PLC
26 June 2017
 

26 June 2017

Vertu Motors plc

(the "Company")

Notification of Directors' interests

The Remuneration Committee of the Company approved grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to persons discharging managerial responsibility in the Company, under the Vertu 2013 Long Term Incentive Plan voted on by shareholders at the 2013 AGM and 2016 AGM ("LTIP Options").  The LTIP Options were issued as detailed below on 23 June 2017: 

 

 

 

 

PDMR

Number of Ordinary Shares subject to the LTIP Options**

Resultant number of Ordinary Shares subject to options

Beneficial holding

of Ordinary Shares

 excluding options*

 

Robert Forrester

303,030

798,012

6,925,608

Michael Sherwin

227,273

598,510

484,993

David Crane

113,636

812,838

154,137

Karen Anderson

113,636

812,838

756,926

Ian Harrison

113,636

834,255

216,738

Colin Kent

113,636

729,255

421,323

Mike Rich

113,636

759,255

35,694

Chris Taylor

113,636

640,415

242,864

Jatinder Aujla

113,636

299,255

65,215

Tim Tozer

113,636

299,255

13,000

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

**includes a CSOP option in respect of 68,181 Ordinary Shares which may be exercised instead of 68,181 of the LTIP Options. 

Vesting of the LTIP Options is dependent upon stretching absolute growth in the Company's total shareholder return and stretching return on equity achieved by the Company over a three year performance period commencing on 1 March 2017. The performance criteria are the same as those approved by shareholders at last year's Annual General Meeting. The LTIP Options are then subject to a further two year holding period.  Further details are set out on page 54 of the 2017 annual report and accounts.  

The Company's issued share capital consists of 397,269,839 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 LTIP OPTIONS

b)      

Position/status

CEO

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

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

h)      

Price(s) and volume(s)

 

Price

Volume(s)

NIL

303,030

 

 

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

23 JUNE 2017

k)      

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

MICHAEL SHERWIN

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

b)    

Position/status

CFO

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

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

h)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

227,273

 

 

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

23 JUNE 2017

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

DAVID CRANE

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

b)    

Position/status

CHIEF OPERATIONS OFFICER

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

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

h)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

113,636

 

 

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

23 JUNE 2017

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

KAREN ANDERSON

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

b)    

Position/status

COMPANY SECRETARY

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

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

h)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

113,636

 

 

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

23 JUNE 2017

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

IAN HARRISON

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

a)    

Position/status

OPERATIONS DIRECTOR

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

113,636

 

 

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

23 JUNE 2017

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

COLIN KENT

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

a)    

Position/status

OPERATIONS DIRECTOR

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

113,636

 

 

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

23 JUNE 2017

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

MIKE RICH

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

a)    

Position/status

OPERATIONS DIRECTOR

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

113,636

 

 

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

23 JUNE 2017

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

JATINDER AUJLA

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

a)    

Position/status

OPERATIONS DIRECTOR

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

113,636

 

 

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

23 JUNE 2017

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

CHRIS TAYLOR

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

a)    

Position/status

OPERATIONS DIRECTOR

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

113,636

 

 

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

23 JUNE 2017

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

TIM TOZER

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

a)    

Position/status

OPERATIONS DIRECTOR

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

113,636

 

 

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

23 JUNE 2017

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

- Ends -

For further information please contact:

 

Vertu Motors plc

 

Robert Forrester, CEO

Tel: 0191 491 2111

Michael Sherwin, CFO

Tel: 0191 491 2114

Canaccord Genuity Limited

 

Bruce Garrow                                                                         Tel: 020 7523 8000

Chris Connors

Richard Andrews

Zeus Capital Limited

Dominic King

Tel: 020 3829 5000

Camarco

Billy Clegg

Tel: 020 3757 4983

Georgia Edmonds

 

     

 

 

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the fifth largest automotive retailer in the UK with a network of 124 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 121 franchised sales outlets and 3 non-franchised sales operations from 104 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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DSHOKPDDDBKBOAB

Companies

Vertu Motors (VTU)
UK 100

Latest directors dealings