Information  X 
Enter a valid email address

Vertu Motors PLC (VTU)

  Print          Annual reports

Friday 13 May, 2022

Vertu Motors PLC

EBT Share Purchase

RNS Number : 3470L
Vertu Motors PLC
13 May 2022
 

13 May 2022

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

EBT Share Purchase

Vertu Motors announces that it was notified on 12 May 2022, of the following acquisition ("Dealing") of the Company's ordinary shares of 10p each ("Ordinary Shares") by Ocorian Limited ("Trustee"), the trustee of the Company's employee benefit trust.  The Dealing took place on 12 May 2022 at a price of 50.40p per Ordinary Share.

The acquired 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 is a potential participant, and other share options and share schemes, under which other PDMRs are potential participants.  They are therefore regarded as having a notional interest in the acquired 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

3,636,305

1.02

3,960,331

7,596,636

2.13

The Company's issued share capital consists of 357,456,992 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 CLOSELY ASSOCIATED WITH THEM

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

OCORIAN 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)

0.5040

3,960,331

d) 

Aggregated information

 

-Aggregated volume

 

- Price

 

 

n/a

 

n/a

 

e) 

Date of the transaction

12 MAY 2022

f) 

Place of transaction

AIM

- Ends -

For further information please contact:

Vertu Motors plc


Robert Forrester, CEO

Tel: 0191 491 2121

Karen Anderson, CFO

Tel: 0191 491 2121

Zeus Capital Limited


Jamie Peel

Andrew Jones

Dominic King

 

Tel: 020 3829 5000

Camarco


Billy Clegg

Tom Huddart

 

Tel: 020 3757 4983

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 160 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 156 franchised sales outlets and 4 non-franchised sales operations from 121 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 / www.vertumotorcycles.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
POSFLFEEETIFLIF

a d v e r t i s e m e n t