REG - Vertu Motors PLC - Notification of Director’s interests

Vertu MotorsAnnouncement

22/12/2022 12:45

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RNS Number : 6567K  Vertu Motors PLC  22 December 2022

22 December 2022

 

Vertu Motors plc

 

(the "Company")

 

Notification of Director's interests

 

The Company announces that it was notified on 19 December 2022 that David
Crane, a director and person discharging managerial responsibility in the
Company, had exercised nil-cost options over  53,583 ordinary shares of 10p
each in the Company ("Ordinary Shares"), on 19 December 2022, that were issued
in August 2013 under the Vertu Long Term Incentive Plan. The option exercises
were satisfied via a transfer of Ordinary Shares from the Company's Employee
Benefit Trust.

 

The Company has also been notified that David Crane sold 25,237 of the 53,583
Ordinary Shares exercised, to satisfy the resultant income tax and National
Insurance liability.  The sale took place on 19 December 2022 at a price of
51.28 pence per Ordinary Share.

 

              Beneficial holding of Ordinary Shares prior to the Dealings*  % of issued share capital prior to the Dealings*  Ordinary Shares acquired by PDMR**                                                                        Resultant % of issued share capital after the Dealings*

                                                                                                                                                                  Resultant Beneficial holding of Ordinary Shares after the Dealings*

 PDMR
 David Crane  437,133                                                       0.13%                                             28,346                              465,479                                                               0.13%

 

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

** net amount after the sale to satisfy tax and NI liability.

 

The Company's issued share capital consists of 348,945,522 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                                                                        DAVID CRANE
 2.          Reason for the notification                                                 ACQUISITION OF SHARES
 b)          Position/status                                                             COO
 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  ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
             code

             Identification code

                                                                                         GB00B1GK4645
 g)          Nature of the transaction                                                   EXERCISE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC,
                                                                                         PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN, RESULTING IN THE TRANSFER
                                                                                         OF SHARES FROM THE COMPANY'S EBT
 h)          Price(s) and volume(s)

Price  Volume(s)
             NIL    53,583
 i)          Aggregated information                                                      NOT APPLICABLE - SINGLE TRANSACTION

             -Aggregated volume

             - Price
 j)          Date of the transaction                                                     19 DECEMBER 2022
 k)          Place of transaction                                                        OFF MARKET

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

19 DECEMBER 2022

k)

Place of transaction

OFF MARKET

 

 

 1.          Details of the person discharging managerial responsibilities/person closely
             associated
 a)          Name                                                                        DAVID CRANE
 2.          Reason for the notification                                                 SALE OF SHARES
 b)          Position/status                                                             COO
 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  ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
             code

             Identification code

                                                                                         GB00B1GK4645
 g)          Nature of the transaction                                                   SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO
                                                                                         THE COMPANY'S LONG TERM INCENTIVE PLAN
 h)          Price(s) and volume(s)

Price   Volume(s)
             0.5128  25,237
 i)          Aggregated information                                                      NOT APPLICABLE - SINGLE TRANSACTION

             -Aggregated volume

             - Price
 j)          Date of the transaction                                                     19 DECEMBER 2022
 k)          Place of transaction                                                        LONDON STOCK EXCHANGE, AIM

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

19 DECEMBER 2022

k)

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

- ENDS -

 

 Vertu Motors plc
 Robert Forrester, CEO            Tel: 0191 491 2121
 Karen Anderson, CFO              Tel: 0191 491 2121

 Phil Clark, Investor relations   PClark@vertumotors.com
 Zeus Capital Limited
 Jamie Peel                       Tel: 020 3829 5000

 Andrew Jones

 Dominic King
 Camarco
 Billy Clegg                      Tel: 020 3757 4983

 Tom Huddart

 

Notes to Editors

 

Vertu Motors is the fourth largest automotive retailer in the UK with a
network of 192 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 188 franchised sales outlets and 4
non-franchised sales operations from 142 locations across the UK.

 

Vertu's Mission Statement is to "deliver an outstanding customer motoring
experience through honesty and trust".

 

Vertu Motors Group websites - https://investors.vertumotors.com/
(https://investors.vertumotors.com/) /www.vertucareers.com
(http://www.vertucareers.com)

Vertu brand websites - www.vertumotors.com (http://www.vertumotors.com) /
www.bristolstreet.co.uk (http://www.bristolstreet.co.uk) / www.vertuhonda.com
(http://www.vertuhonda.com) / www.vertutoyota.com (http://www.vertutoyota.com)
/ www.macklinmotors.co.uk (http://www.macklinmotors.co.uk) /
www.vertumotorcyles.com (http://www.vertumotorcyles.com)

 

 

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