Source - RNS
RNS Number : 0079J
Vertu Motors PLC
06 September 2016
 

6 September 2016

Vertu Motors plc

(the "Company")

Notification of Directors' interests

The Remuneration Committee of the Company approved grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to persons discharging managerial responsibility in the Company, under the Vertu 2013 Long Term Incentive Plan, amended as approved by the Company's shareholders at its annual general meeting on 20 July 2016 ("LTIP Options").  The LTIP Options were issued as detailed below on 5 September 2016:

 

 

 

 

PDMR

Number of Ordinary Shares subject to the LTIP Options**

Resultant number of Ordinary Shares subject to options

Beneficial holding

of Ordinary Shares

 excluding options*

Robert Forrester

289,854

1,288,661

6,782,719

Michael Sherwin

217,391

966,497

428,298

David Crane

108,695

962,062

154,137

Karen Anderson

108,695

911,468

756,926

Ian Harrison

108,695

997,062

163,155

Colin Kent

108,695

892,062

367,740

Mike Rich

108,695

922,062

7,346

Chris Taylor

108,695

803,223

189,281

Jatinder Aujla

108,695

462,062

11,632

Tim Tozer

108,695

108,695

13,000

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

**includes a CSOP option in respect of 60,301 Ordinary Shares which may be exercised instead of 60,301 of the LTIP Options. 

Vesting of the LTIP Options is dependent upon the total shareholder return and return on equity achieved by the Company over a three year performance period commencing on 1 March 2016.  The LTIP Options are then subject to a further two year holding period.

The Company's issued share capital consists of 397,269,839 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

ACCEPTANCE OF OPTION

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

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

289,854

i)

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

5 SEPTEMBER 2016

k)      

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

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

MICHAEL SHERWIN

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

217,391

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

5 SEPTEMBER 2016

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

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

DAVID CRANE

2.    

Reason for the notification

ACCEPTANCE OF OPTION

b)    

Position/status

CHIEF OPERATIONS OFFICER

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

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

5 SEPTEMBER 2016

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

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

KAREN ANDERSON

2.    

Reason for the notification

ACCEPTANCE OF OPTION

b)    

Position/status

COMPANY SECRETARY

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

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

5 SEPTEMBER 2016

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

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

IAN HARRISON

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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 code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 SEPTEMBER 2016

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

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

COLIN KENT

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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 code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 SEPTEMBER 2016

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

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

MIKE RICH

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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 code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 SEPTEMBER 2016

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

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

JATINDER AUJLA

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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 code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 SEPTEMBER 2016

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

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

CHRIS TAYLOR

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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 code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 SEPTEMBER 2016

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

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

TIM TOZER

2.    

Reason for the notification

ACCEPTANCE OF OPTION

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 code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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

108,695

d)    

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 SEPTEMBER 2016

f)     

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

- Ends -

For further information please contact:

 

Vertu Motors plc


Robert Forrester, CEO

Tel: 0191 491 2111

Michael Sherwin, FD

Tel: 0191 491 2114

Liberum

 

Peter Tracey

Tel: 020 3100 2000

Richard Crawley

Jamie Richards

Zeus Capital Limited

Adam Pollock

Tel: 020 7533 7727

Camarco

Billy Clegg

Tel: 020 3757 4983

Georgia Mann


Tom Huddart


 

 

Notes to Editors

Vertu, the UK automotive retailer with a proven growth strategy, is the fifth largest automotive retailer in the UK with a network of 132 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell, South Hereford Garages and Macklin Motors brand names.

Vertu was established in November 2006 with the strategy to consolidate the UK automotive retail sector. It is intended that the Group will continue to acquire automotive 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 129 franchised sales outlets and 3 non-franchised sales operations from 109 locations across the UK.

Vertu Group websites - www.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.southherefordgarages.co.uk / www.vertumercedes-benz.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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