Last checked at 6 Sep 2016 07:00
6 September 2016
Vertu Motors plc
(the "Company")
Notification of Directors' interests
The Remuneration Committee of the Company approved grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to persons discharging managerial responsibility in the Company, under the Vertu 2013 Long Term Incentive Plan, amended as approved by the Company's shareholders at its annual general meeting on 20 July 2016 ("LTIP Options"). The LTIP Options were issued as detailed below on 5 September 2016:
PDMR | Number of Ordinary Shares subject to the LTIP Options** | Resultant number of Ordinary Shares subject to options | Beneficial holding of Ordinary Shares excluding options* |
Robert Forrester | 289,854 | 1,288,661 | 6,782,719 |
Michael Sherwin | 217,391 | 966,497 | 428,298 |
David Crane | 108,695 | 962,062 | 154,137 |
Karen Anderson | 108,695 | 911,468 | 756,926 |
Ian Harrison | 108,695 | 997,062 | 163,155 |
Colin Kent | 108,695 | 892,062 | 367,740 |
Mike Rich | 108,695 | 922,062 | 7,346 |
Chris Taylor | 108,695 | 803,223 | 189,281 |
Jatinder Aujla | 108,695 | 462,062 | 11,632 |
Tim Tozer | 108,695 | 108,695 | 13,000 |
*includes shares held by persons closely associated with the PDMR.
**includes a CSOP option in respect of 60,301 Ordinary Shares which may be exercised instead of 60,301 of the LTIP Options.
Vesting of the LTIP Options is dependent upon the total shareholder return and return on equity achieved by the Company over a three year performance period commencing on 1 March 2016. The LTIP Options are then subject to a further two year holding period.
The Company's issued share capital consists of 397,269,839 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 | ACCEPTANCE OF OPTION | ||||
b) | Position/status | CEO | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES GB00B1GK4645 | ||||
g) | 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 | ||||
h) | Price(s) and volume(s)
| |||||
i) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION |
j) | Date of the transaction | 5 SEPTEMBER 2016 |
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | MICHAEL SHERWIN | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
b) | Position/status | CFO | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES GB00B1GK4645 | ||||
g) | 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 | ||||
h) | Price(s) and volume(s)
| |||||
i) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION |
j) | Date of the transaction | 5 SEPTEMBER 2016 |
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | DAVID CRANE | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
b) | Position/status | CHIEF OPERATIONS OFFICER | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES GB00B1GK4645 | ||||
g) | 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 | ||||
h) | Price(s) and volume(s)
| |||||
i) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION |
j) | Date of the transaction | 5 SEPTEMBER 2016 |
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | KAREN ANDERSON | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
b) | Position/status | COMPANY SECRETARY | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES GB00B1GK4645 | ||||
g) | 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 | ||||
h) | Price(s) and volume(s)
| |||||
i) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION |
j) | Date of the transaction | 5 SEPTEMBER 2016 |
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | IAN HARRISON | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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 | 5 SEPTEMBER 2016 |
f) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | COLIN KENT | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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 | 5 SEPTEMBER 2016 |
f) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | MIKE RICH | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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 | 5 SEPTEMBER 2016 |
f) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | JATINDER AUJLA | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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 | 5 SEPTEMBER 2016 |
f) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | CHRIS TAYLOR | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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 | 5 SEPTEMBER 2016 |
f) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
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 | TIM TOZER | ||||
2. | Reason for the notification | ACCEPTANCE OF OPTION | ||||
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
IDENTIFICATION CODE FOR VERTU MOTORS PLC ORDINARY SHARES 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 | 5 SEPTEMBER 2016 |
f) | Place of transaction | LONDON STOCK EXCHANGE, AIM |
- Ends -
For further information please contact:
Vertu Motors plc | ||
Robert Forrester, CEO | Tel: 0191 491 2111 | |
Michael Sherwin, FD | Tel: 0191 491 2114 | |
Liberum |
| |
Peter Tracey | Tel: 020 3100 2000 | |
Richard Crawley | ||
Jamie Richards | ||
Zeus Capital Limited | ||
Adam Pollock | Tel: 020 7533 7727 | |
Camarco | ||
Billy Clegg | Tel: 020 3757 4983 | |
Georgia Mann | ||
Tom Huddart | ||
Notes to Editors
Vertu, the UK automotive retailer with a proven growth strategy, is the fifth largest automotive retailer in the UK with a network of 132 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell, South Hereford Garages and Macklin Motors brand names.
Vertu was established in November 2006 with the strategy to consolidate the UK automotive retail sector. It is intended that the Group will continue to acquire automotive 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 129 franchised sales outlets and 3 non-franchised sales operations from 109 locations across the UK.
Vertu Group websites - www.vertumotors.com / www.vertucareers.com
Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.southherefordgarages.co.uk / www.vertumercedes-benz.com