Source - LSE Regulatory
RNS Number : 1549P
Vertu Motors PLC
14 October 2021
 

14 October 2021

Vertu Motors plc

(the "Company")

Notification of PDMR's interests

 

The Company announces that it was notified on 14 October 2021 that Ian Harrison, a person discharging managerial responsibility in the Company, had exercised options over 30,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), on 13 October 2021, that were issued in November 2011 under the Vertu Company Share Option PlanThe Company has also been notified that Ian Harrison sold 21,260 of the 30,000 Ordinary Shares received to satisfy the associated exercise price and income tax and National Insurance liability.  The sale took place on 13 October 2021 at a price of 58.1 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*

Ian Harrison

240,879

0.07%

8,740

249,619

0.07%

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

** net amount after the sales to satisfy the exercise price and tax and NI liability.

 

The Company also announces that it was notified on 14 October 2021 that Mike Rich, a person discharging managerial responsibility in the Company, had exercised the following options over Ordinary Shares, on 13 October 2021, all of which were settled in cash as permitted under the Vertu Company Share Option Plan rules.

 

Mike Rich - Operations Director

Number of Options (Date of Grant)

Exercise Price

Market Value on Date of Exercise

30,000 Unapproved (November 2011)

26 pence per Ordinary Share

58.6 pence per Ordinary Share

400,000 Unapproved (June 2012)

27.5 pence per Ordinary Share

58.6 pence per Ordinary Share

30,000 Approved (October 2012)

39.25 pence per Ordinary Share

58.6 pence per Ordinary Share

 

The Company's issued share capital consists of 367,191,910 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury.

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

IAN HARRISON

2.    

Reason for the notification

ACQUISITION OF SHARES

b)    

Position/status

OPERATIONS DIRECTOR

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

 

 

GB00B1GK4645

g)    

Nature of the transaction

EXERCISE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S SHARE OPTION PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT

h)    

Price(s) and volume(s)

 

Price

Volume(s)

0.26

30,000

 

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

13 OCTOBER 2021

k)    

Place of transaction

OFF MARKET

 

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

IAN HARRISON

2.    

Reason for the notification

SALE OF SHARES

b)    

Position/status

OPERATIONS DIRECTOR

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

 

 

GB00B1GK4645

g)    

Nature of the transaction

SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S SHARE OPTION PLAN

h)    

Price(s) and volume(s)

 

Price

Volume(s)

0.581

21,260

 

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

13 OCTOBER 2021

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

 

 

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

MIKE RICH

2.    

Reason for the notification

EXERCISE OF OPTION

b)    

Position/status

OPERATIONS DIRECTOR

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

 

 

GB00B1GK4645

g)    

Nature of the transaction

EXERCISE OF OPTIONS OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S SHARE OPTION PLAN -SATISFIED IN CASH

h)    

Price(s) and volume(s)

 

Price

Volume(s)

0.586

460,000

 

i)     

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

13 OCTOBER 2021

k)    

Place of transaction

OFF MARKET

 

 

- 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 154 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu 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 150 franchised sales outlets and 4 non-franchised sales operations from 118 locations across the UK.

 

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".

 

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

 

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.macklinmotors.co.uk 

 

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