Last checked at 8 Mar 2024 14:12
08 March 2024
Vertu Motors plc
(the "Company")
Notification of PDMR interests
The Company announces that it was notified on 07 March 2024 that Colin Kent, a person discharging managerial responsibility in the Company, had exercised nil-cost options over 179,811 ordinary shares of 10p each in the Company ("Ordinary Shares") on 07 March 2024, that were issued in March 2020 under the Vertu Long Term Incentive Plan. The option exercise was satisfied via a transfer of Ordinary Shares from the Company's Employee Benefit Trust.
The Company has also been notified that Colin Kent sold all of the 179,811 Ordinary Shares acquired. The sale took place on 08 March 2024 at a price of 66.6247 pence per Ordinary Share.
PDMR | Beneficial holding of Ordinary Shares prior to the dealings above* | % of issued share capital prior to the dealings above* | Ordinary Shares acquired by PDMR | Resultant Beneficial holding of Ordinary Shares after the dealings above* | Resultant % of issued share capital after the dealings above* |
Colin Kent | 449,251 | 0.13% | 0 | 449,251 | 0.13% |
* includes shares held by persons closely associated with the PDMR.
The Company's issued share capital consists of 337,602,150 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 | COLIN KENT | ||||
2. | Reason for the notification | ACQUISITION 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 | EXERCISE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S LONG TERM INCENTIVE PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT | ||||
h) | Price(s) and volume(s)
| |||||
i) | Aggregated information
-Aggregated volume
- Price | NOT APPLICABLE - SINGLE TRANSACTION | ||||
j) | Date of the transaction | 07 MARCH 2024 | ||||
k) | Place of transaction | OFF MARKET | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | COLIN KENT | ||||
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 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 | 08 MARCH 2024 | ||||
k) | Place of transaction | LONDON STOCK EXCHANGE, AIM | ||||
- ENDS -
Vertu Motors plc | |
Robert Forrester, CEO | Tel: 0191 491 2121 |
Karen Anderson, CFO Phil Clark, Investor relations | Tel: 0191 491 2121 PClark@vertumotors.com |
Stifel | |
Matthew Blawat Nick Harland
| Tel: 0207 710 7688
|
Camarco | |
Billy Clegg Tom Huddart | Tel: 020 3757 4983 |
Notes to Editors
Vertu Motors is the fourth largest automotive retailer in the UK with a network of 188 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 184 franchised sales outlets and 4 non-franchised sales operations from 143 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".
Vertu Motors Group websites - https://investors.vertumotors.com /www.vertucareers.com
Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcyles.com