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Vertu Motors PLC (VTU)

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Friday 08 April, 2022

Vertu Motors PLC

Notification of PDMR's interests

RNS Number : 8298H
Vertu Motors PLC
08 April 2022
 

08 April 2022

Vertu Motors plc

(the "Company")

Notification of PDMR's interests

 

The Company announces that it was notified on 07 April 2022 that Ian Harrison, a person discharging managerial responsibility in the Company, had exercised options over 400,000 ordinary shares of 10p each in the Company ("Ordinary Shares") on 07 April 2022, that were issued in June 2012 under the Vertu Company Share Option Plan The Company has also been notified that Ian Harrison sold 289,808 of the 400,000 Ordinary Shares received to satisfy the associated exercise price and income tax and National Insurance liability.  The sale took place on 07 April 2022 at a price of 58.823 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*

Ian Harrison

249,619

0.07%

110,192

359,811

0.10 %

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

** net amount after the sales to satisfy the exercise price and tax and NI liability.

The Company's issued share capital consists of 357,826,916 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

IAN HARRISON

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)

0.275

400,000

i) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j) 

Date of the transaction

07 APRIL 2022

k) 

Place of transaction

OFF MARKET

 

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

IAN HARRISON

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)

0.588230

289,808

i) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j) 

Date of the transaction

07 APRIL 2022

k) 

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

 

 

- Ends -

For further information please contact:

 

Vertu Motors plc


Robert Forrester, CEO

Tel: 0191 491 2111

Karen Anderson, CFO

Tel: 0191 491 2112



Zeus Capital Limited

Tel: 020 3829 5000

Jamie Peel


Andrew Jones


Dominic King

 


Camarco

Tel: 020 3757 4983

Billy Clegg


Tom Huddart


 

 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 159 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 3 non-franchised sales operations from 120 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  

 

 

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