REG - Vertu Motors PLC - Notification of PDMR interests

Vertu MotorsAnnouncement

01/09/2022 07:00

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RNS Number : 8234X  Vertu Motors PLC  01 September 2022

1 September 2022

Vertu Motors plc

(the "Company")

Notification of PDMR interests

 

The Company announces that it was notified on 31 August 2022 that Colin Kent,
a person discharging managerial responsibility in the Company, had exercised
options over 30,000 ordinary shares of 10p each in the Company ("Ordinary
Shares"), on 30 August 2022, that were issued in October 2012 under the Vertu
Company Share Option Plan with an exercise price of 39.25 pence per Ordinary
Share.  The option exercise was satisfied via transfers of Ordinary Shares
from the Company's Employee Benefit Trust.

The Company has also been notified that Colin Kent sold 23,412 of the 30,000
Ordinary Shares he received to satisfy the associated exercise price.  The
sale took place on 30 August 2022 at a price of 50.40 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 Beneficial holding of Ordinary Shares after the Dealings*  Resultant % of issued share capital after the Dealings*

 PDMR
 Colin Kent  442,663                                                       0.13%                                             6,588**                           449,251                                                              0.13%

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

** net amount after the sale to satisfy the exercise price and 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                                                                        COLIN KENT
 2.            Reason for the notification                                                 ACQUISITION OF SHARES
 a)            Position/status                                                             OPERATIONS DIRECTOR
 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  ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
               code

               Identification code

                                                                                           GB00B1GK4645
 b)            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
 c)            Price(s) and volume(s)

Price   Volume(s)
               0.3925  30,000
 d)            Aggregated information                                                      NOT APPLICABLE - SINGLE TRANSACTION

               -Aggregated volume

               - Price
 e)            Date of the transaction                                                     30 AUGUST 2022
 f)            Place of transaction                                                        OFF MARKET

d)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)

Date of the transaction

30 AUGUST 2022

f)

Place of transaction

OFF MARKET

 

 1.            Details of the person discharging managerial responsibilities/person closely
               associated
 a)            Name                                                                        COLIN KENT
 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  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 SHARE OPTION PLAN
 h)            Price(s) and volume(s)

Price   Volume(s)
               0.5040  23,412
 i)            Aggregated information                                                      NOT APPLICABLE - SINGLE TRANSACTION

               -Aggregated volume

               - Price
 j)            Date of the transaction                                                     30 AUGUST 2022
 k)            Place of transaction                                                        LONDON STOCK EXCHANGE, AIM

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

30 AUGUST 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 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
(http://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.macklinmotors.co.uk (http://www.macklinmotors.co.uk) /
www.vertumotorcycles.com (http://www.vertumotorcycles.com)

 

 

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