Last checked at 1 Mar 2019 07:00
1 March 2019
Vertu Motors plc ("Vertu Motors" or the "Company")
Board Appointment
Further to the announcement of Directorate changes made on 13 December 2018, Vertu Motors plc, the automotive retailer with a network of 125 sales outlets across the UK, is pleased to confirm the appointment of Karen Anderson (aged 47), as Chief Financial Officer and as a Director of the Company with immediate effect. Michael Sherwin has stepped down as CFO and director of the Company from the same date.
The Company also announces that Karen Anderson has stepped down as Company Secretary with effect from 1 March 2019 and been replaced by Nicola Loose, who will take up the role in addition to her current role as the Company's General Counsel.
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Karen, together with her PCAs, holds 848,312 ordinary shares of 10p each in the Company ("Ordinary Shares") and 930,000 share options over Ordinary Shares. As part of the Company's long-term incentive plan ("LTIP"), Karen has been granted 222,331 share options over Ordinary Shares which have not yet vested and remain subject to certain performance criteria.
Karen holds, or has held in the past 5 years, the directorships and partnerships that are listed below:
Current Directorships or Partnerships: | Previous Directorships or Partnerships: |
Aceparts Limited | Alpha Ilford |
Albert Farnell Limited | Seton House Manchester Limited |
All Car Parts Limited Best 4 Vans Limited | Alpha Shirley Dispose Seton (No 2) |
Blacks Autos Limited | Motor Parks Limited |
Blake Holdings Limited | Alpha Birmingham |
Boydslaw 103 Limited | Alpha Nottingham |
Bristol Street Limited Bristol Street Commercials (Italia) Limited | Alpha Bromley Alpha Jessups Limited |
Bristol Street Fifth Investments Limited | Alpha Leeds |
Bristol Street First Investments Limited | Alpha Huddersfield |
Bristol Street Fleet Services Limited Bristol Street Fourth Investments Limited | Alpha Banbury Alpha Southampton |
Bristol Street Group Limited Bristol Street (No.1) Limited Bristol Street (No.2) Limited | Alpha Worcester Alpha Cramlington Limited Alpha Poole |
Brookside (1998) Limited BSH Pension Trustee Limited CarsandVansDirect Limited | Alpha Newcastle Alpha Stourbridge Alpha Romford |
Compare Click Call Limited | Jessups Motor Group |
Dobies (Carlisle) Limited | Fleet Datascan Limited |
Dunfermline Autocentre Limited | Alpha Stamford |
Easy Vehicle Finance Limited | Alpha Bournemouth Limited |
Gordon Lamb Group Limited Gordon Lamb Holdings Limited | Alpha Stanley Limited Alpha Sunderland |
Gordon Lamb Limited | Alpha Stamford Hill Limited |
Grantham Motor Company Limited | Alpha Parts |
Hillendale Group Limited | Alpha Ruislip |
Hillendale LR Limited Horseshoe Vehicle Contracts Limited | Alpha Sherwood Alpha Cheltenham |
Hughes Group Holdings Limited | Milehire Limited |
Hughes of Beaconsfield Limited |
|
International Concessionaires Limited |
|
KC Mobility Solutions Limited |
|
Macklin Property Limited Merifield Properties Limited |
|
Motor Nation Car Hypermarkets Limited |
|
National Allparts Limited Newbolds Garage (Mansfield) Limited Peter Blake Limited Peter Blake (Chatsworth) Limited Peter Blake (Clumber) Limited |
|
SHG Holdings Limited |
|
Sigma Holdings Limited |
|
South Hereford Garages Limited |
|
The Taxi Centre Limited Tyne Tees Finance Limited |
|
Typocar Limited Vanman Limited Vans Direct Limited |
|
Vertu Fleet Limited |
|
Vertu Motors (AMC) Limited Vertu Motors (Chingford) Limited Vertu Motors (Continental) Limited |
|
Vertu Motors (Durham) Limited |
|
Vertu Motors (Finance) Limited Vertu Motors (Knaresborough) Limited |
|
Vertu Motors (Pity Me) Limited |
|
Vertu Motors (Property 2) Limited |
|
Vertu Motors (Property) Limited |
|
Vertu Motors (Retail) Limited |
|
Vertu Motors (VMC) Limited |
|
Vertu Motors Property 2 Holdings Limited |
|
Vertu Motors Third Limited Vertu Ventures Limited |
|
Why Pay More For Cars Limited |
|
Widnes Car Centre (1994) Limited |
|
Widnes Car Centre Limited |
|
Save as disclosed above, there are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.
For further information please contact:
Vertu Motors plc
Robert Forrester, CEO | Tel: 0191 491 2111 |
Karen Anderson, CFO | Tel: 0191 491 2103 |
Zeus Capital Limited
Nicholas How | Tel: 020 3829 5000 |
Andrew Jones |
|
Dominic King |
|
Camarco
Billy Clegg | Tel: 020 3757 4983 |
Tom Huddart |
|
Notes to Editors
Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 125 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 Company will continue to acquire motor retail operations to grow a scaled dealership group. The Company's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Company currently operates 122 franchised sales outlets and 3 non-franchised sales operations from 106 locations across the UK.
Vertu Motors Company websites - www.vertumotors.com / www.vertucareers.com
Vertu brand websites - 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