Driver Grp Regulatory News (DRV)

10 December 2013

Driver Group plc

("Driver Group" or the "Company")

Director/PDMR Shareholding

Issue of Equity

On 23 January 2011, Dave Webster, Chief Executive of the Company, was granted share options consisting of 500,000 ordinary shares exercisable at 21.5 pence per share and 750,000 long term incentive plan (LTIP) share options exercisable at nil pence per share. The share options (including the LTIP options) were conditional on the Company achieving an underlying earnings per share of 6.2 pence.

In the preliminary results for the year ended 30 September 2013, the Company reported underlying* earnings per share of 10.2 pence and basic earnings per share of 8.3 pence. The remuneration committee of the Company has therefore confirmed that the share options (including the LTIP share options) have reached their vesting criteria and are therefore capable of being exercised. As a result, Dave Webster has exercised both his 500,000 share options and his 750,000 LTIP share options. The exercise of the 500,000 share options will be satisfied by the issue of ordinary shares currently held by the Company's employee benefit trust.

In addition, the Company has been informed that on 9 December 2013, Dave Webster sold 750,000 ordinary shares at a price of 120 pence per share. Following these transactions, Dave Webster beneficial holding has increased to 2,002,088 ordinary shares, representing approximately 7.4 per cent. of the Company's issued share capital.

Application will be made to the London Stock Exchange for the 750,000 new ordinary shares being issued pursuant to the exercise of the share options, to be admitted to trading on AIM and it is expected that dealings will commence on 13 December 2013. The new ordinary shares will rank pari passu in all respects with the existing issued ordinary shares in the Group. The Group's enlarged issued ordinary share capital immediately following the issue of the new ordinary shares will be 27,129,416. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Group under the Disclosure and Transparency Rules.

* Underlying figures are stated before the share-based payment costs and exceptional items

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