Vertu Motors PLC Notification of PDMR interests (8234X)

TIDMVTU

RNS Number : 8234X

Vertu Motors PLC

01 September 2022

1 September 2022

Vertu Motors plc

(the "Company")

Notification of PDMR interests

The Company announces that it was notified on 31 August 2022 that Colin Kent, a person discharging managerial responsibility in the Company, had exercised options over 30,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), on 30 August 2022, 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 exercise was satisfied via transfers of Ordinary Shares from the Company's Employee Benefit Trust.

The Company has also been notified that Colin Kent sold 23,412 of the 30,000 Ordinary Shares he received to satisfy the associated exercise price. The sale took place on 30 August 2022 at a price of 50.40 pence per Ordinary Share.

 
                                                                           Resultant 
                     Beneficial                                           Beneficial        Resultant 
                     holding of      % of issued                          holding of      % of issued 
        PDMR    Ordinary Shares    share capital           Ordinary         Ordinary    share capital 
                   prior to the         prior to    Shares acquired     Shares after        after the 
                      Dealings*    the Dealings*            by PDMR    the Dealings*        Dealings* 
 Colin Kent             442,663            0.13%            6,588**          449,251           0.13 % 
              -----------------  ---------------  -----------------  ---------------  --------------- 
 

* 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                               COLIN KENT 
          ---------------------------------  ------------------------------------ 
      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       ORDINARY SHARES OF 10p EACH 
            instrument, type of instrument     IN VERTU MOTORS PLC 
            identification code 
 
            Identification code                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) 
             Price    Volume(s) 
             0.3925   30,000 
                     ---------- 
          ----------------------------------------------------------------------- 
      d)   Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
      e)   Date of the transaction            30 AUGUST 2022 
          ---------------------------------  ------------------------------------ 
      f)   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       ORDINARY SHARES OF 10p EACH 
            instrument, type of instrument     IN VERTU MOTORS PLC 
            identification code 
 
            Identification code                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) 
             Price    Volume(s) 
             0.5040   23,412 
                     ---------- 
          ----------------------------------------------------------------------- 
      i)   Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
      j)   Date of the transaction            30 AUGUST 2022 
          ---------------------------------  ------------------------------------ 
      k)   Place of transaction               LONDON STOCK EXCHANGE, AIM 
          ---------------------------------  ------------------------------------ 
 

- Ends -

For further information please contact:

 
 Vertu Motors plc 
 Robert Forrester, CEO   Tel: [phone] 
 Karen Anderson, CFO     Tel: [phone] 
 
 Zeus Capital Limited    Tel: [phone] 
 Jamie Peel 
 Andrew Jones 
 Dominic King 
 
 Camarco                 Tel: [phone] 
 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

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September 01, 2022 02:02 ET (06:02 GMT)