Notification of PDMR's interests

RNS Number : 2835P

Vertu Motors PLC

08 February 2023

 

08 February 2023

Vertu Motors plc

(the "Company")

Notification of PDMR's interests

The Company announces that it was notified on 07 February 2023 that Stephen Gould, a person discharging managerial responsibility in the Company , had, on 06 February 2023, exercised options over 500,000 ordinary shares of 10p each in the Company ("Ordinary Shares") that were issued in July 2018 (300,000 shares with an exercise price of 49.6 pence per Ordinary Share) and November 2018 (200,000 shares with an exercise price of 38.25 pence per Ordinary Share) under the Company's Share Option Plan. The option exercises were satisfied via a transfer of Ordinary Shares from the Company's Employee Benefit Trust.

The Company has also been notified that Stephen Gould sold all 500,000 Ordinary Shares received.  The sale took place on 07 February 2023 at a price of 59 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*
Stephen Gould	19,881	0.01%	Nil	19,881	0.01%

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

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	S TEPHEN GOULD
2.	Reason for the notification	ACQUISITION 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	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) 49.6 300,000 38.25 2 00,000
i)	Aggregated information -Aggregated volume - Price	500,000 0.451
j)	Date of the transaction	06 FEBRUARY 2023
k)	Place of transaction	OFF MARKET

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	S TEPHEN GOULD
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) 0.5900 500,000
i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	07 FEBRUARY 2023
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

- ENDS -

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Karen Anderson, CFO Phil Clark, Investor relations	Tel: [phone] [e-mail]
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 fourth largest automotive retailer in the UK with a network of 191 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 187 franchised sales outlets and 4 non-franchised sales operations from 141 locations across the UK.

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

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

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcyles.com

 

END

 

 

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