Last checked at 17 Mar 2020 17:12
17 March 2020
Vertu Motors plc
(the "Company")
Notification of Directors' interests
Vertu Motors announces that Ian Harrison, a person discharging managerial responsibility in the Company, has exercised nil-cost options over Ordinary Shares under LTIP Options issued in 2016 and received Ordinary Shares on 13 March 2020.
The Company has also been notified that Ian Harrison has sold 19,041 of the 40,337 Ordinary Shares exercised, to satisfy the resultant income tax and National Insurance liability. The sale took place on 13 March 2020 at a price of 24.645 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 | 228,931 | 0.06 | 21,296 | 250,227 | 0.07 |
* includes shares held by persons closely associated with the PDMR.
** net amount after the sale to satisfy tax and NI liability.
The Company's issued share capital consists of 369,173,891 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 | EXERCISE OF LTIP OPTIONS | ||||||
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, AND SALE OF, 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 | 13 MARCH 2020 | ||||||
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM | ||||||
- Ends -
For further information please contact:
Vertu Motors plcRobert Forrester, CEOKaren Anderson, CFO | Tel: 0191 491 2111Tel: 0191 491 2112 |
Zeus Capital LimitedJamie 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 133 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 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 130 franchised sales outlets and 3 non-franchised sales operations from 110 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".
Vertu Motors Group 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