Notification of PDMR interests

RNS Number : 8234X

Vertu Motors PLC

01 September 2022

 

1 September 2022

Vertu Motors plc

(the "Company")

Notification of PDMR interests

The Company announces that it was notified on 31 August 2022 that Colin Kent, a person discharging managerial responsibility in the Company, had exercised options over 30,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), on 30 August 2022, that were issued in October 2012 under the Vertu Company Share Option Plan with an exercise price of 39.25 pence per Ordinary Share .  The option exercise was satisfied via transfers of Ordinary Shares from the Company's Employee Benefit Trust.

The Company has also been notified that Colin Kent sold 23,412 of the 30,000 Ordinary Shares he received to satisfy the associated exercise price.  The sale took place on 30 August 2022 at a price of 50.40 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*
Colin Kent	442,663	0.13%	6,588**	449,251	0.13 %

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

** net amount after the sale to satisfy the exercise price and 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	COLIN KENT
2.	Reason for the notification	ACQUISITION OF SHARES
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	EXERCISE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S SHARE OPTION PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT
c)	Price(s) and volume(s) Price Volume(s) 0.3925 30,000
d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	30 AUGUST 2022
f)	Place of transaction	OFF MARKET

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	COLIN KENT
2.	Reason for the notification	SALE OF SHARES
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	SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S SHARE OPTION PLAN
h)	Price(s) and volume(s) Price Volume(s) 0.5040 23,412
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	30 AUGUST 2022
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

- Ends -

For further information please contact:

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

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 160 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 156 franchised sales outlets and 4 non-franchised sales operations from 121 locations across the UK.

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

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

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.macklinmotors.co.uk / www.vertumotorcycles.com

 

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