Notification of PDMR's interests

RNS Number : 7403P

Vertu Motors PLC

21 October 2021

 

21 October 2021

Vertu Motors plc

(the "Company")

Notification of PDMR's interests

The Company announces that it was notified on 20 October 2021 that David Crane and Karen Anderson, directors and persons discharging managerial responsibility in the Company, had each exercised options over 400,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), on 19 October 2021, that were issued in June 2012 under the Vertu Company Share Option Plan with an exercise price of 27.5 pence per Ordinary Share .  The Company has also been notified that David Crane and Karen Anderson each sold 281,916 of the 400,000 Ordinary Shares received to satisfy the associated exercise price and income tax and National Insurance liability.  The sales took place on 20 October 2021 at a price of 62.45 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	285,952	0.08%	118,084	404,036	0.11%
Karen Anderson	1,012,513	0.28%	118,084	1,130,597	0.31 %

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

** net amount after the sales to satisfy the exercise price and tax and NI liability.

The Company also announces that it was notified on 20 October 2021 that Steve Gould, a person discharging managerial responsibility in the Company, had exercised the following options over Ordinary Shares, on 19 October 2021, all of which were settled in cash as permitted under the Vertu Company Share Option Plan rules.

S teve Gould - Operations Director
Number of Options (Date of Grant)	Exercise Price	Market Value on Date of Exercise
30,000 Approved (October 2012)	39.25 pence per Ordinary Share	63 pence per Ordinary Share

The Company's issued share capital consists of 367,177,430 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 SHARE OPTION PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT
h)	Price(s) and volume(s) Price Volume(s) 0.275 400,000
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	1 9 OCTOBER 2021
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 SHARE OPTION PLAN
h)	Price(s) and volume(s) Price Volume(s) 0.6245 281,916
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	20 OCTOBER 2021
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	ACQUISITION OF SHARES
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	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
h)	Price(s) and volume(s) Price Volume(s) 0.275 400,000
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	19 OCTOBER 2021
k)	Place of transaction	OFF MARKET

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	KAREN ANDERSON
2.	Reason for the notification	SALE OF SHARES
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	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) 0.6245 281,916
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	20 OCTOBER 2021
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	STEVE GOULD
2.	Reason for the notification	EXERCISE OF OPTION
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 OPTIONS OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S SHARE OPTION PLAN -SATISFIED IN CASH
h)	Price(s) and volume(s) Price Volume(s) 0.63 30,000
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	19 OCTOBER 2021
k)	Place of transaction	OFF MARKET

- Ends -

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Karen Anderson, CFO	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 154 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 150 franchised sales outlets and 4 non-franchised sales operations from 118 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  

 

END

 

 

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