TIDMVTU

RNS Number : 2129D

Vertu Motors PLC

25 June 2021

25 June 2021

Vertu Motors plc

(the "Company")

Notification of Directors' interests

The Company announces that the Company made grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to directors of the Company ("Options") . The Options were made under the Partnership Share Scheme, part of the Company's Long Term Incentive Plan, and are a percentage of target earnings calculated using the Company's closing share price at the date prior to the date of grant. The Options were issued on 24 June 2021 as detailed below:

 
 
                     Number of Ordinary    Resultant number     Beneficial holding 
                       Shares subject      of Ordinary Shares    of Ordinary Shares 
          Director     to the Options      subject to options    excluding options 
 Robert Forrester         443,451               443,451              7,444,181 
                    -------------------  --------------------  -------------------- 
 David Crane               249,480             1,263,063              255,952 
                    -------------------  --------------------  -------------------- 
 Karen Anderson            249,480             1,179,480             1,012,513 
                    -------------------  --------------------  -------------------- 
 

Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the current financial year, and vested Options are then subject to a further three-year holding period before they can be exercised.

The Company's issued share capital consists of 369,173,981 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 OPTIONS 
          ---------------------------------  ------------------------------------ 
      a)   Position/status                    CEO 
          ---------------------------------  ------------------------------------ 
    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       ORDINARY SHARES OF 10p EACH IN 
            instrument, type of instrument     VERTU MOTORS PLC 
            identification code 
 
            Identification code                GB00B1GK4645 
          ---------------------------------  ------------------------------------ 
    b)     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 
          ---------------------------------  ------------------------------------ 
    c)     Price(s) and volume(s) 
             Price    Volume(s) 
             NIL      443,451 
                     ---------- 
          ----------------------------------------------------------------------- 
    d)     Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
    e)     Date of the transaction            24 June 2021 
          ---------------------------------  ------------------------------------ 
    f)     Place of transaction               OUTSIDE A TRADING VENUE 
          ---------------------------------  ------------------------------------ 
 
 
      1.   Details of the person discharging managerial responsibilities/person 
            closely associated 
      a)   Name                               DAVID CRANE 
          ---------------------------------  ------------------------------------ 
    2.     Reason for the notification        ISSUE OF 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 
          ----------------------------------------------------------------------- 
      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       ORDINARY SHARES OF 10p EACH IN 
            instrument, type of instrument     VERTU MOTORS PLC 
            identification code 
 
            Identification code                GB00B1GK4645 
          ---------------------------------  ------------------------------------ 
    b)     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 
          ---------------------------------  ------------------------------------ 
    c)     Price(s) and volume(s) 
             Price    Volume(s) 
             NIL      249,480 
                     ---------- 
          ----------------------------------------------------------------------- 
    d)     Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
    e)     Date of the transaction            24 June 2021 
          ---------------------------------  ------------------------------------ 
    f)     Place of transaction               OUTSIDE A TRADING VENUE 
          ---------------------------------  ------------------------------------ 
 
 
      1.   Details of the person discharging managerial responsibilities/person 
            closely associated 
      a)   Name                               KAREN ANDERSON 
          ---------------------------------  ------------------------------------ 
    2.     Reason for the notification        ISSUE OF OPTIONS 
          ---------------------------------  ------------------------------------ 
      a)   Position/status                    CFO 
          ---------------------------------  ------------------------------------ 
    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       ORDINARY SHARES OF 10p EACH IN 
            instrument, type of instrument     VERTU MOTORS PLC 
            identification code 
 
            Identification code                GB00B1GK4645 
          ---------------------------------  ------------------------------------ 
    b)     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 
          ---------------------------------  ------------------------------------ 
    c)     Price(s) and volume(s) 
             Price    Volume(s) 
             NIL      249,480 
                     ---------- 
          ----------------------------------------------------------------------- 
    d)     Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
    e)     Date of the transaction            24 June 2021 
          ---------------------------------  ------------------------------------ 
    f)     Place of transaction               OUTSIDE A TRADING VENUE 
          ---------------------------------  ------------------------------------ 
 

- Ends -

For further information please contact:

 
 Vertu Motors plc 
 Robert Forrester, CEO   Tel: 0191 491 2121 
 Karen Anderson, CFO     Tel: 0191 491 2121 
 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 fifth largest automotive retailer in the UK with a network of 149 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 145 franchised sales outlets and 4 non-franchised sales operations from 115 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.vertucareers.com

Vertu brand websites - www.vertumotors.com / 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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END

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June 25, 2021 10:43 ET (14:43 GMT)

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