REG - Vertu Motors PLC - Notification of Directors' interests

Vertu MotorsAnnouncement

05/09/2019 15:15

RNS Number : 4078L
Vertu Motors PLC
05 September 2019
 


5 September 2019
Vertu Motors plc
(the "Company")
Notification of Directors' interests
The Company announces that the Remuneration Committee of the Company approved grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to directors of the Company ("LTIP Options").  The LTIP Options were made under the Vertu 2013 Long Term Incentive Plan, voted on by shareholders at the 2013 AGM.  The performance conditions attached to the LTIP Options were amended at the 2019 AGM.  The LTIP Options were issued on 3 September 2019 as detailed below: 
 




 
 
Director


Number of Ordinary Shares subject to the LTIP Options


Resultant number of Ordinary Shares subject to options




Robert Forrester


466,665*


1,139,468




Karen Anderson


350,876


1,434,849




David Crane


350,876


1,518,432




*includes 78,947 CSOP options which may be exercised as an alternative.
Vesting of the LTIP Options is dependent upon Adjusted Profit Before Tax targets for the Company over a three year performance period commencing on 1 March 2019. The LTIP Options can be exercised after three years from the date of grant but are subject to a further two year holding period such that shares awarded under these LTIP Options may not be sold until after five years from the date of grant.   
The Company's issued share capital consists of 369,683,252 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


ROBERT FORRESTER




2.      


Reason for the notification


ISSUE OF LTIP OPTIONS




b)      


Position/status


CEO




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


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




h)      


Price(s) and volume(s)
 




Price


Volume(s)




NIL


466,665




 




i)


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




j)


Date of the transaction


3 September 2019




k)      


Place of transaction


LONDON STOCK EXCHANGE, AIM




 
 




1.    


Details of the person discharging managerial responsibilities/person closely associated




a)    


Name


KAREN ANDERSON




2.    


Reason for the notification


ISSUE OF LTIP OPTIONS




b)    


Position/status


CFO




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


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




h)    


Price(s) and volume(s)
 




Price


Volume(s)




NIL


350,876




 




i)     


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




j)     


Date of the transaction


3 September 2019




k)    


Place of transaction


LONDON STOCK EXCHANGE, AIM




 
 




1.    


Details of the person discharging managerial responsibilities/person closely associated




a)    


Name


DAVID CRANE




2.    


Reason for the notification


ISSUE OF LTIP OPTIONS




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 code
 
Identification code


ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
 
 
GB00B1GK4645




g)    


Nature of the transaction


ACCEPTANCE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN




h)    


Price(s) and volume(s)
 




Price


Volume(s)




NIL


350,876




 




i)     


Aggregated information
 
-Aggregated volume
 
- Price


NOT APPLICABLE - SINGLE TRANSACTION




j)     


Date of the transaction


3 September 2019




k)    


Place of transaction


LONDON STOCK EXCHANGE, AIM




 
- Ends -
For further information please contact:
 




Vertu Motors plc

Robert Forrester, CEO

Karen Anderson, CFO


Tel: 0191 491 2111

Tel: 0191 491 2112




 
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 123 sales outlets across the UK. Its' dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". 
Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com
Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com
 




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