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:
|
Director | Number of Ordinary Shares subject to the Options
| Resultant number of Ordinary Shares subject to options
| Beneficial holding of Ordinary Shares 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 instrument, type of instrument identification code
Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
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)
| |||||
| d) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
| 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 instrument, type of instrument identification code
Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
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)
| |||||
| d) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
| 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 instrument, type of instrument identification code
Identification code | ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC
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)
| |||||
| d) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
| 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 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 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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