Vertu Motors PLC PDMR Share Purchase (2170P)

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RNS Number : 2170P

Vertu Motors PLC

24 May 2018

24 May 2018

Vertu Motors plc ("Vertu Motors" or "Company")

PDMR Share Purchase

Vertu Motors announces that it was notified on 24 May 2018, of the following dealing ("Dealing") in ordinary shares of 10p each in the capital of the Company ("Ordinary Shares") by Christopher Taylor, Operations Director, who, whilst not a statutory director of the Company, is considered to be a person discharging managerial responsibility in the Company. The Dealing took place on 18 May 2018 at a price of 44p per Ordinary Share.

 
                               Beneficial                                   Resultant 
                                 interest                                  beneficial 
                  Beneficial      as % of                   Resultant        interest 
         PDMR       interest       issued                  beneficial         as % of 
                 in Ordinary        share                    interest          issued 
                      Shares      capital    Ordinary     in Ordinary           share 
                       prior        prior      Shares          Shares         capital 
                      to the       to the    acquired           after           after 
                    Dealing*     Dealing*     by PDMR    the Dealing*    the Dealing* 
-------------  -------------  -----------  ----------  --------------  -------------- 
 Christopher 
  Taylor             258,568         0.07       4,400         262,968            0.07 
-------------  -------------  -----------  ----------  --------------  -------------- 
 

*includes shares held by the PDMR's PCAs.

The Company's issued share capital consists of 379,292,049 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
      1.   Details of the person discharging managerial 
            responsibilities/person closely associated 
--------  -------------------------------------------------------------- 
      a)   Name                             CHRISTOPHER TAYLOR 
--------  -------------------------------  ----------------------------- 
   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               ORDINARY SHARES OF 10p 
            financial instrument,            EACH IN VERTU MOTORS PLC 
            type of instrument               GB00B1GK4645 
            identification code 
            Identification code 
--------  -------------------------------  ----------------------------- 
  b)       Nature of the transaction        PURCHASE OF ORDINARY SHARES 
                                             OF 10p EACH IN VERTU MOTORS 
                                             PLC INTO A SHARE TRADING 
                                             ACCOUNT BY THE EXERCISE 
                                             OF A SHARE OPTION 
--------  -------------------------------  ----------------------------- 
  c)       Price(s) and volume(s) 
             Price      Volume(s) 
            ---------  ---------- 
             GBP0.44    4,400 
            ---------  ---------- 
--------  -------------------------------------------------------------- 
  d)       Aggregated information           NOT APPLICABLE - SINGLE 
            -Aggregated volume               TRANSACTION 
            - Price 
--------  -------------------------------  ----------------------------- 
  e)       Date of the transaction          18 MAY 2018 
--------  -------------------------------  ----------------------------- 
 

- Ends -

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 121 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 118 franchised sales outlets and 3 non-franchised sales operations from 104 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

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.

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May 24, 2018 08:00 ET (12:00 GMT)