Notification of Directors' interests

RNS Number : 3217T

Vertu Motors PLC

03 July 2018

 

3 July 2018

Vertu Motors plc

(the "Company")

Notification of Directors' interests

The Remuneration Committee of the Company approved grants of options over ordinary shares of 10p each in the Company ("Ordinary Shares") to persons discharging managerial responsibility in the Company, under the Vertu 2007 Discretionary Option Plan ("CSOP Options").  The CSOP Options were issued as detailed below on 2 July 2018: 

PDMR	Number of Ordinary Shares subject to the CSOP Options	Resultant number of Ordinary Shares subject to options	Beneficial holding of Ordinary Shares excluding options*
David Crane	300,000	1,035,914	158,397
Karen Anderson	300,000	1,035,914	761,186
Ian Harrison	300,000	982,331	220,998
Colin Kent	300,000	952,331	421,323
Mike Rich	300,000	982,331	39,954
Chris Taylor	300,000	732,331	262,968
Jatinder Aujla	300,000	522,331	69,475
Stephen Gould	300,000	630,000	0

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

Vesting of the CSOP Options is dependent upon achievement of an average share price over a 30 day period from August 2021 to August 2022.

The Company's issued share capital consists of 379,292,049 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	DAVID CRANE
2.	Reason for the notification	ISSUE OF CSOP 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 CSOP PLAN
h)	Price(s) and volume(s) Price Volume(s) NIL 300,000

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	2 JULY 2018
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 CSOP 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 CSOP PLAN
h)	Price(s) and volume(s) Price Volume(s) NIL 300,000

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	2 JULY 2018
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 CSOP 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 CSOP PLAN
c)	Price(s) and volume(s) Price Volume(s) NIL 300,000

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	2 JULY 2018
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 CSOP 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 CSOP PLAN
c)	Price(s) and volume(s) Price Volume(s) NIL 300,000

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	2 JULY 2018
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 CSOP 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 CSOP PLAN
c)	Price(s) and volume(s) Price Volume(s) NIL 300,000

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	2 JULY 2018
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 CSOP 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 CSOP PLAN
c)	Price(s) and volume(s) Price Volume(s) NIL 300,000

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	2 JULY 2018
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	CHRISTOPHER TAYLOR
2.	Reason for the notification	ISSUE OF CSOP 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 CSOP PLAN
c)	Price(s) and volume(s) Price Volume(s) NIL 300,000

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	2 JULY 2018
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

5.	Details of the person discharging managerial responsibilities/person closely associated
b)	Name	STEPHEN GOULD
6.	Reason for the notification	ISSUE OF CSOP OPTIONS
c)	Position/status	DIVISIONAL DIRECTOR
d)	Initial notification/Amendment	INITIAL NOTIFICATION
7.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
c)	Name	VERTU MOTORS PLC
d)	LEI	213800GIKJEIUIGMI575
8.	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
g)	Description of the financial instrument, type of instrument identification code Identification code	ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645
h)	Nature of the transaction	ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S CSOP PLAN
i)	Price(s) and volume(s) Price Volume(s) NIL 300,000

j)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
k)	Date of the transaction	2 JULY 2018
l)	Place of transaction	LONDON STOCK EXCHANGE, AIM

- Ends -

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

 

END

 

 

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