Vertu Motors PLC Notification of PDMR interests

RNS Number : 1458B

Vertu Motors PLC

20 August 2024

 

20 August 2024

 

Vertu Motors plc

 

(the "Company")

 

Notification of PDMR interests

 

The Company announces that it was notified on 20 August 2024 that Mark Gibbings, a person discharging managerial responsibility in the Company, had exercised nil-cost options over 59,148 ordinary shares of 10p each in the Company ("Ordinary Shares") on 20 August 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 Mark Gibbings sold all of the 59,148 Ordinary Shares acquired.  The sale took place on 20 August 2024 at a price of 71.5540 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*
Mark Gibbings	25,532	0.01%	0	25,532	0.01%

* includes shares held by persons closely associated with the PDMR.

The Company's issued share capital consists of 334,701,107 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	MARK GIBBINGS
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)   Price Volume(s) NIL 59,148
i)	Aggregated information   -Aggregated volume   - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	20 AUGUST 2024
k)	Place of transaction	OFF MARKET

 

 

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	MARK GIBBINGS
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)   Price Volume(s) 0.715540 59,148
i)	Aggregated information   -Aggregated volume   - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	20 AUGUST 2024
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

 

- ENDS -

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Karen Anderson, CFO Phil Clark, Investor relations	Tel: [phone] [e-mail]
Stifel
Matthew Blawat Nick Harland	Tel: [phone]
Camarco
Billy Clegg Tom Huddart	Tel: [phone]

 

Notes to Editors

Vertu Motors is the fourth largest automotive retailer in the UK with a network of 192 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 188 franchised sales outlets and 4 non-franchised sales operations from 144 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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

HOLZZGZRDGKGDZM