Last checked at 17 Aug 2022 07:46
17 August 2022
Vertu Motors plc
(the "Company")
Notification of PDMR interests
The Company announces that it was notified on 16 August 2022 that Ian Harrison and Christopher Taylor, persons discharging managerial responsibility in the Company, had each exercised options (detailed below) over ordinary shares of 10p each in the Company ("Ordinary Shares"), on 12 August 2022 and 16 August 2022 respectively, that were issued in October 2012 under the Vertu Company Share Option Plan with an exercise price of 39.25 pence per Ordinary Share. The option exercises were satisfied via transfers of Ordinary Shares from the Company's Employee Benefit Trust.
The Company has also been notified that Christopher Taylor sold 173,359 of the 200,000 Ordinary Shares he received to satisfy the associated exercise price and income tax and National Insurance liability. The sale took place on 16 August 2022 at a price of 52.6580 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 | 362,908 | 0.10% | 30,000 | 392,908 | 0.11% |
Christopher Taylor | 343,475 | 0.10% | 26,641** | 370,116 | 0.11% |
* includes shares held by persons closely associated with the PDMR.
** net amount after the sale to satisfy the exercise price and tax and NI liability.
The Company's issued share capital consists of 348,945,522 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 | ||||
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 SHARE OPTION PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT | ||||
c) | Price(s) and volume(s)
| |||||
d) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
e) | Date of the transaction | 12 AUGUST 2022 | ||||
f) | Place of transaction | OFF MARKET | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | CHRISTOPHER 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 SHARE OPTION PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT | ||||
c) | Price(s) and volume(s)
| |||||
d) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
e) | Date of the transaction | 16 AUGUST 2022 | ||||
f) | Place of transaction | OFF MARKET | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | CHRISTOPHER TAYLOR | ||||
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)
| |||||
i) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
j) | Date of the transaction | 16 AUGUST 2022 | ||||
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM | ||||
- Ends -
For further information please contact:
Vertu Motors plc |
|
Robert Forrester, CEO | Tel: 0191 491 2111 |
Karen Anderson, CFO | Tel: 0191 491 2112 |
| |
Zeus Capital Limited | Tel: 020 3829 5000 |
Jamie Peel | |
Andrew Jones | |
Dominic King | |
| |
Camarco | Tel: 020 3757 4983 |
Billy Clegg |
|
Tom Huddart |
|
|
|
Notes to Editors
Vertu Motors is the fifth largest automotive retailer in the UK with a network of 160 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 156 franchised sales outlets and 4 non-franchised sales operations from 121 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 / www.vertumotorcycles.com