EBT Share Purchase

RNS Number : 6781D
Vertu Motors PLC
08 July 2016
 

8 July 2016

Vertu Motors plc ("Vertu Motors" or "Company")

EBT Share Purchase

Vertu Motors announces that it was notified on 7 July 2016, of the following acquisition ("Dealing") in the Company's ordinary shares of 10p each ("Ordinary Shares") by Estera Trust (Jersey) Limited ("Trustee"), the trustee of the Company's employee benefit trust.  The Dealing took place on 7 July 2016 at a price of 37.865p per Ordinary Share:

The shares were purchased by the Trustee to be held for the purposes of the employee benefit trust, and may be used to transfer shares to individuals when options are exercised.  This could include the Company's Long Term Incentive Plan, under which each of the executive directors of the Company and the Company's other PDMRs is a potential participant, and is therefore regarded as having a notional interest in these shares.


Beneficial holding of Ordinary Shares prior to the Dealing

% of issued share capital prior to the Dealing

Ordinary Shares acquired

Resultant Beneficial holding of Ordinary Shares after the Dealing

Resultant % of issued share capital after the Dealing

Trustee

0

0

2,635,687

2,635,687

0.66

The Company's issued share capital consists of 397,269,839 Ordinary Shares with voting rights.  The Company does not hold any Ordinary shares in treasury.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSLEY ASSOCIATED WITH THEM

1.        

Details of the person discharging managerial responsibilities/person closely associated

a)        

Name

ESTERA TRUST (JERSEY) LIMITED

2.        

Reason for the notification

ACQUISITION OF SHARES

a)        

Position/status

EBT TRUSTEE

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

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES GB00B1GK4645

b)        

Nature of the transaction

PURCHASE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

c)         

Price(s) and volume(s)

 

Price

Volume(s)

£0.37865

2,635,687

d)        

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)        

Date of the transaction

7 JULY 2016

f)         

Place of transaction

AIM

 

- Ends -

For further information please contact:

 

Vertu Motors plc


Robert Forrester, CEO

Tel: 0191 491 2111

Michael Sherwin, FD

Tel: 0191 491 2114

Liberum

 

Peter Tracey

Tel: 020 3100 2000

Richard Crawley

Jamie Richards

Zeus Capital Limited

Adam Pollock

Tel: 020 7533 7727

Camarco

Billy Clegg

Tel: 020 3757 4983

Georgia Mann


Tom Huddart


 

Notes to Editors

Vertu, the UK automotive retailer with a proven growth strategy, is the fifth largest automotive retailer in the UK with a network of 132 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell, South Hereford Garages and Macklin Motors brand names.

Vertu was established in November 2006 with the strategy to consolidate the UK automotive retail sector. It is intended that the Group will continue to acquire automotive 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 129 franchised sales outlets and 3 non-franchised sales operations from 109 locations across the UK.

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

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.southherefordgarages.co.uk / www.vertumercedes-benz.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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