Source - RNS
RNS Number : 0083J
Vertu Motors PLC
06 September 2016
 

6 September 2016

Vertu Motors plc

(the "Company")

Notification of Directors' and PDMR's interests

The Company has been notified of the exercise by persons discharging managerial responsibility ("PDMR") in the Company of options over ordinary shares of 10p each in the Company ("Ordinary Shares"), under the Vertu 2013 Long Term Incentive Plan ("LTIP Options").  The LTIP Options were exercised as detailed below on 5 September 2016 resulting in the acquisition of Ordinary Shares as set out below, by way of transfer from the Company's Employee Benefit Trust. 

The Company has also been notified that Michael Sherwin, a director and PDMR, has sold 50,471 of the 107,166 Ordinary Shares exercised, to satisfy the resultant income tax and National Insurance liability, and that Mike Rich, a PDMR, has sold 25,235 of the 53,583 Ordinary Shares exercised to satisfy the resultant income tax and National Insurance liability.  The sales took place on 5 September 2016 at a price of 49.75 pence per Ordinary Share.

 

 

 

PDMR

Beneficial holding of Ordinary Shares prior to the Dealings*

% of issued share capital prior to the Dealings*

Ordinary Shares acquired by PDMR

Resultant Beneficial holding of Ordinary Shares after the Dealings*

Resultant % of issued share capital after the Dealings*

Robert Forrester

6,782,719

1.71

142,887

6,925,606

1.74

Michael Sherwin

428,298

0.11

56,695

484,993

0.12

Jatinder Aujla

11,632

0.00

53,583

65,215

0.02

Ian Harrison

163,155

0.04

53,583

216,738

0.05

Colin Kent

367,740

0.09

53,583

421,323

0.11

Mike Rich

7,346

0.00

28,348

35,694

0.02

Chris Taylor

189,281

0.05

53,583

242,864

0.06

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

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

ACQUISITION OF SHARES

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 instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

b)  

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

c)  

Price(s) and volume(s)

 

Price

Volume(s)

NIL

142,887

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

MICHAEL SHERWIN

2.    

Reason for the notification

ACQUISITION OF SHARES

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 instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

b)    

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

c)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

107,166

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

IAN HARRISON

2.    

Reason for the notification

ACQUISITION OF SHARES

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

 

 

GB00B1GK4645

b)    

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

c)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

53,583

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

ACQUISITION OF SHARES

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

 

 

GB00B1GK4645

b)    

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

c)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

53,583

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

ACQUISITION OF SHARES

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

 

 

GB00B1GK4645

b)    

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

c)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

53,583

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

ACQUISITION OF SHARES

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

 

 

GB00B1GK4645

b)    

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

c)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

53,583

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

ACQUISITION OF SHARES

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

 

 

GB00B1GK4645

b)    

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

c)    

Price(s) and volume(s)

 

Price

Volume(s)

NIL

53,583

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

MICHAEL SHERWIN

2.    

Reason for the notification

SALE OF SHARES

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 instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

b)    

Nature of the transaction

SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

c)    

Price(s) and volume(s)

 

Price

Volume(s)

49.75p

50,471

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

SALE OF SHARES

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

c)    

Name

VERTU MOTORS PLC

d)    

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

 

 

GB00B1GK4645

b)    

Nature of the transaction

SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

c)    

Price(s) and volume(s)

 

Price

Volume(s)

49.75p

25,235

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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