Notification of Directors' interests

RNS Number : 1429U

Vertu Motors PLC

27 July 2015

 

27 July 2015

Vertu Motors plc

(the "Company")

Notification of Directors' interests

Long Term Incentive Plan ("LTIP")

The Remuneration Committee of the Company approved grants of nil-cost options, under the Vertu Long Term Incentive Plan ("LTIP Options"), over ordinary shares of 10p each in the Company to Directors on 16 June 2015 as detailed below:

LTIP Annual Awards

Director	Role	Number of Ordinary Shares subject to the Nil-Cost Option
Robert Forrester	Chief Executive	205,128
Michael Sherwin	Finance Director	153,846

The LTIP was approved by shareholders at the 2013 Annual General Meeting of the Company.  Vesting of the LTIP Options is dependent upon the total shareholder return ("TSR") achieved by the Company over a three year performance period commencing on 1 March 2015.

Total Holdings

Following these transactions Robert Forrester and Michael Sherwin hold the following Ordinary Shares together with options over the same exercisable, as follows:

Director	No of Ordinary Shares of 10p each	No. of options over ordinary shares of 10p each
Robert Forrester	6,630,205	998,807
Michael Sherwin	361,828	809,164

- Ends -

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Michael Sherwin, FD	Tel: [phone]
Liberum
Peter Tracey	Tel: [phone]
Richard Crawley
Jamie Richards
Zeus Capital Limited
Adam Pollock	Tel: [phone]
Camarco
Billy Clegg	Tel: [phone]
Georgia Mann

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 117 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell 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 115 franchised sales outlets and 2 non-franchised sales operations from 96 locations across the UK.

Vertu Motors 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 

 

END

 

 

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