Vertu Motors PLC Notification of Directors' interests (4078L)
05 Settembre 2019 - 4:14PM
UK Regulatory
TIDMVTU
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:
Number of Ordinary Shares Resultant number of Ordinary
Director subject to the LTIP Options 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 ORDINARY SHARES OF 10p EACH IN
instrument, type of instrument VERTU MOTORS PLC
identification code
Identification code 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 NOT APPLICABLE - SINGLE TRANSACTION
-Aggregated volume
- Price
--------------------------------- ------------------------------------
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 ORDINARY SHARES OF 10p EACH IN
instrument, type of instrument VERTU MOTORS PLC
identification code
Identification code 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 NOT APPLICABLE - SINGLE TRANSACTION
-Aggregated volume
- Price
--------------------------------- ------------------------------------
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 ORDINARY SHARES OF 10p EACH IN
instrument, type of instrument VERTU MOTORS PLC
identification code
Identification code 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 NOT APPLICABLE - SINGLE TRANSACTION
-Aggregated volume
- Price
--------------------------------- ------------------------------------
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 Tel: 0191 491 2111
Robert Forrester, CEO Tel: 0191 491 2112
Karen Anderson, CFO
Tel: 020 3829 5000
Zeus Capital Limited
Jamie Peel
Andrew Jones
Dominic King
Tel: 020 3757 4983
Camarco
Billy Clegg
Tom Huddart
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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September 05, 2019 10:14 ET (14:14 GMT)
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