Vertu Motors PLC Board Appointment (7903V)

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RNS Number : 7903V

Vertu Motors PLC

26 July 2018

26 July 2018

Vertu Motors plc ("Vertu Motors" or the "Group")

Board Appointment

Vertu Motors plc, the automotive retailer with a network of 125 sales outlets across the UK, is pleased to announce the appointment of Mr. David Paul Crane (aged 50), as an Executive Director of the Company with immediate effect.

David joined Vertu Motors at its inception in 2007 and has 25 years of experience in the automotive sector, both with manufacturers and retailers. David is currently the Group's Chief Operations Officer, having been appointed to this role in 2017. Prior to joining Vertu Motors, David was Commercial Director of Reg Vardy plc. In his position at Vertu Motors, David is responsible for the management and running of the Group's operations infrastructure, including all of the central aftersales support, IT, purchasing, fleet sales and ancillary business activities as well as two operational franchised dealership divisions.

Robert Forrester, CEO of Vertu Motors said:

"David is a key member of the team which has built Vertu Motors from an idea 12 years ago to the reality of being the UK's sixth largest automotive retailer. David has been instrumental in the operational and strategic development of the Group and the Board will be strengthened by his appointment."

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

David holds 158,397 ordinary shares of 10p each in the Group ("Ordinary Shares") and 760,000 share options over Ordinary Shares. As part of the Group's long-term incentive plan ("LTIP"), David has been granted 222,331 share options over Ordinary Shares, which have not yet vested and remain subject to certain performance criteria and 53,583 share options over Ordinary Shares which have vested but not yet been exercised.

David 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                         N/A 
 Albert Farnell Limited 
 All Car Parts Limited 
 Blacks Autos Limited 
 Blake Holdings Limited 
 Boydslaw 103 Limited 
 Bristol Street Commercials (Italia) 
  Limited 
 Bristol Street Fifth Investments 
  Limited 
 Bristol Street First Investments 
  Limited 
 Bristol Street Fourth Investments 
  Limited 
 Bristol Street Group Limited 
 Brookside (1998) Limited 
 Compare Click Call Limited 
 Dobies (Carlisle) Limited 
 Dunfermline Autocentre Limited 
 Easy Vehicle Finance Limited 
 Gordon Lamb Group Limited 
 Gordon Lamb Holdings Limited 
 Gordon Lamb Limited 
 Grantham Motor Company Limited 
 Greenoaks (Maidenhead) Limited 
 Hillendale Group Limited 
 Hillendale LR Limited 
 Hughes Group Holdings Limited 
 Hughes of Beaconsfield Limited 
 International Concessionaires 
  Limited 
 KC Mobility Solutions Limited 
 Macklin Property Limited 
 Motor Nation Car Hypermarkets 
  Limited 
 Newbolds Garage (Mansfield) Limited 
 Northolme Properties Limited 
 SHG Holdings Limited 
 Sigma Holdings Limited 
 South Hereford Garages Limited 
 The Taxi Centre Limited 
 Typocar Limited 
 Vertu Fleet Limited 
 Vertu Motors (Chingford) Limited 
 Vertu Motors (Durham) Limited 
 Vertu Motors (Knaresborough) 
  Limited 
 Vertu Motors (Pity Me) Limited 
 Vertu Motors (Property 2) Holdings 
  Limited 
 Vertu Motors (Property) Limited 
 Vertu Motors (Retail) Limited 
 Vertu Motors (VMC) Limited 
 Vertu Motors Property 2 Holdings 
  Limited 
 Vertu Motors Third 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             Tel: [phone] 
  Robert Forrester, CEO        Tel: [phone] 
  Michael Sherwin, CFO 
 Canaccord Genuity Limited    Tel: [phone] 
  Chris Connors 
  Henry Fitzgerald-O'Connor 
  Richard Andrews 
  Zeus Capital Limited        Tel: [phone] 
   Dominic King 
  Camarco                     Tel: [phone] 
   Billy Clegg 
   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 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 122 franchised sales outlets and 3 non-franchised sales operations from 106 locations across the UK.

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

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July 26, 2018 02:02 ET (06:02 GMT)