Grant of Options under SAYE Scheme

RNS Number : 8614S

Motorpoint Group plc

28 December 2016

 

Motorpoint Group Plc

 ("Motorpoint" or "the Company")

Grant of Options under SAYE Scheme

Motorpoint, the UK's largest independent vehicle retailer, is pleased to announce that it has launched a Save As You Earn ("SAYE") share scheme for all its permanent employees on 27 December 2016.  

Eligible employees were invited to subscribe for options over the Company's Ordinary Shares of 1 pence each ("Ordinary Shares") at an exercise price of 112.3875 pence, representing a 10% discount to the closing middle market price of the Ordinary Shares on 2 December 2016, the dealing day before the invitation to participate was made. The options have a contract start date of 1 February 2017 and are exercisable between 1 February 2020 and 31 July 2020.

A total of 335 employees out of 680 elected to participate, and pursuant to these elections a total of 770,041 options over Ordinary Shares have been granted, equating to 0.77% of the current issued share capital.

Mark Carpenter (CEO), James Gilmour (CFO) and Keely Hemmings (PDMR) of the Company, have elected to participate in the SAYE scheme and are included in the total figures above. Their individual option grants pursuant to the SAYE scheme are as follows:

Mark Carpenter:	3,203 shares under option
James Gilmour:	3,203 shares under option
Keely Hemmings:	3,203 shares under option

As a result of these option grants, Mr Carpenter, Mr Gilmour and Ms Hemmings' respective direct interests in Ordinary Shares are as follows:

Director / PDMR	Ordinary Shares Held	Options granted under SAYE	Total Interest	% of issued share capital
Mark Carpenter	8,874,556	3,203	8,877,759	8.9%
James Gilmour	175,317	3,203	178,520	0.2%
Keely Hemmings	2,342,126	3,203	2,345,329	2.3%

In addition Mark, James and Keely have been granted awards under the Motorpoint Group Plc Performance Share Plan, details of which were announced on 24 June 2016.

Contact Information:
Motorpoint Group Plc (www.motorpointplc.com) Manjit Virk, Company Secretary	Via FTI Consulting
FTI Consulting (Financial PR) Jonathon Brill Alex Beagley	020 3727 1000

Notes to editors

Motorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles. Motorpoint sells vehicles from brands representing over 95 per cent. of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 11 retail sites across Great Britain; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley, Castleford and Oldbury, of which six have opened in the last five years, together with a national call-centre dealing with online enquiries.

 

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