Notification of Directors' interests

RNS Number : 5273G

Vertu Motors PLC

17 March 2020

 

17 March 2020

Vertu Motors plc

(the "Company")

Notification of Directors' interests

Vertu Motors announces that Ian Harrison, a person discharging managerial responsibility in the Company, has exercised nil-cost options over Ordinary Shares under LTIP Options issued in 2016 and received Ordinary Shares on 13 March 2020.

The Company has also been notified that Ian Harrison has sold 19,041 of the 40,337 Ordinary Shares exercised, to satisfy the resultant income tax and National Insurance liability.  The sale took place on 13 March 2020 at a price of 24.645 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*
Ian Harrison	228,931	0.06	21,296	250,227	0.07

* 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 369,173,891 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	IAN HARRISON
2.	Reason for the notification	EXERCISE OF LTIP OPTIONS
b)	Position/status	OPERATIONS DIRECTOR
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, AND SALE OF, 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) EXERCISE -NIL 40,337 SALE -0.24645 19,041
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	13 MARCH 2020
k)	Place of transaction	LONDON STOCK EXCHANGE, 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 133 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 130 franchised sales outlets and 3 non-franchised sales operations from 110 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

 

END

 

 

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