REG - Vertu Motors PLC - Notification of PDMR interests

Vertu MotorsAnnouncement

08/03/2024 14:15

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RNS Number : 2058G  Vertu Motors PLC  08 March 2024

08 March 2024

 

Vertu Motors plc

 

(the "Company")

 

Notification of PDMR interests

 

The Company announces that it was notified on 07 March 2024 that Colin Kent, a
person discharging managerial responsibility in the Company, had exercised
nil-cost options over 179,811 ordinary shares of 10p each in the Company
("Ordinary Shares") on 07 March 2024, that were issued in March 2020 under the
Vertu Long Term Incentive Plan. The option exercise was satisfied via a
transfer of Ordinary Shares from the Company's Employee Benefit Trust.

 

The Company has also been notified that Colin Kent sold all of the 179,811
Ordinary Shares acquired.  The sale took place on 08 March 2024 at a price of
66.6247 pence per Ordinary Share.

 

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

 PDMR
 Colin Kent  449,251                                                             0.13%                                                   0                                 449,251                                                                    0.13%

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

The Company's issued share capital consists of 337,602,150 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
 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                                                   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    179,811
 i)          Aggregated information                                                      NOT APPLICABLE - SINGLE TRANSACTION

             -Aggregated volume

             - Price
 j)          Date of the transaction                                                     07 MARCH 2024
 k)          Place of transaction                                                        OFF MARKET

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

07 MARCH 2024

k)

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 LONG TERM INCENTIVE PLAN
 h)          Price(s) and volume(s)

Price     Volume(s)
             0.666247  179,811
 i)          Aggregated information                                                      NOT APPLICABLE - SINGLE TRANSACTION

             -Aggregated volume

             - Price
 j)          Date of the transaction                                                       08 MARCH 2024
 k)          Place of transaction                                                        LONDON STOCK EXCHANGE, AIM

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

  08 MARCH 2024

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
 Stifel
 Matthew Blawat                   Tel: 0207 710 7688

 Nick Harland

 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 188 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 184 franchised sales outlets and 4
non-franchised sales operations from 143 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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