TIDMVTU
RNS Number : 0818J
Vertu Motors PLC
26 June 2017
26 June 2017
Vertu Motors plc
(the "Company")
Notification of Directors' interests
The Remuneration Committee of the Company approved grants of
nil-cost options over ordinary shares of 10p each in the Company
("Ordinary Shares") to persons discharging managerial
responsibility in the Company, under the Vertu 2013 Long Term
Incentive Plan voted on by shareholders at the 2013 AGM and 2016
AGM ("LTIP Options"). The LTIP Options were issued as detailed
below on 23 June 2017:
Resultant
Number of Ordinary number of Beneficial holding
Shares subject Ordinary Shares of Ordinary
PDMR to the LTIP subject to Shares
Options** options excluding options*
------------------ ------------------- ----------------- --------------------
Robert Forrester 303,030 798,012 6,925,608
------------------ ------------------- ----------------- --------------------
Michael Sherwin 227,273 598,510 484,993
------------------ ------------------- ----------------- --------------------
David Crane 113,636 812,838 154,137
------------------ ------------------- ----------------- --------------------
Karen Anderson 113,636 812,838 756,926
------------------ ------------------- ----------------- --------------------
Ian Harrison 113,636 834,255 216,738
------------------ ------------------- ----------------- --------------------
Colin Kent 113,636 729,255 421,323
------------------ ------------------- ----------------- --------------------
Mike Rich 113,636 759,255 35,694
------------------ ------------------- ----------------- --------------------
Chris Taylor 113,636 640,415 242,864
------------------ ------------------- ----------------- --------------------
Jatinder
Aujla 113,636 299,255 65,215
------------------ ------------------- ----------------- --------------------
Tim Tozer 113,636 299,255 13,000
------------------ ------------------- ----------------- --------------------
*includes shares held by persons closely associated with the
PDMR.
**includes a CSOP option in respect of 68,181 Ordinary Shares
which may be exercised instead of 68,181 of the LTIP Options.
Vesting of the LTIP Options is dependent upon stretching
absolute growth in the Company's total shareholder return and
stretching return on equity achieved by the Company over a three
year performance period commencing on 1 March 2017. The performance
criteria are the same as those approved by shareholders at last
year's Annual General Meeting. The LTIP Options are then subject to
a further two year holding period. Further details are set out on
page 54 of the 2017 annual report and accounts.
The Company's issued share capital consists of 397,269,839
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 ROBERT FORRESTER
------ ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
------ ------------------------------- ---------------------------
b) Position/status CEO
------ ------------------------------- ---------------------------
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 ORDINARY SHARES OF 10p
financial instrument, EACH IN VERTU MOTORS PLC
type of instrument
identification code
GB00B1GK4645
Identification code
------ ------------------------------- ---------------------------
g) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
------ ------------------------------- ---------------------------
h) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 303,030
------- ----------
------ ------------------------------------------------------------
i) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
------ ------------------------ ------------------------
j) Date of the transaction 23 JUNE 2017
------ ------------------------ ------------------------
k) Place of transaction LONDON STOCK EXCHANGE,
AIM
------ ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name MICHAEL SHERWIN
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
b) Position/status CFO
-------- ------------------------------- ---------------------------
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 ORDINARY SHARES OF 10p
financial instrument, EACH IN VERTU MOTORS PLC
type of instrument
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
g) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
h) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 227,273
------- ----------
-------- ------------------------------------------------------------
i) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
j) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
k) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name DAVID CRANE
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
b) Position/status CHIEF OPERATIONS OFFICER
-------- ------------------------------- ---------------------------
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 ORDINARY SHARES OF 10p
financial instrument, EACH IN VERTU MOTORS PLC
type of instrument
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
g) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
h) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
i) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
j) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
k) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name KAREN ANDERSON
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
b) Position/status COMPANY SECRETARY
-------- ------------------------------- ---------------------------
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 ORDINARY SHARES OF 10p
financial instrument, EACH IN VERTU MOTORS PLC
type of instrument
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
g) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
h) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
i) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
j) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
k) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name IAN HARRISON
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
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
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
b) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
c) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
d) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
e) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
f) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name COLIN KENT
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
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
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
b) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
c) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
d) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
e) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
f) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name MIKE RICH
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
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
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
b) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
c) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
d) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
e) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
f) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name JATINDER AUJLA
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
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
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
b) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
c) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
d) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
e) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
f) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name CHRIS TAYLOR
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
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
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
b) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
c) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
d) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
e) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
f) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
-------- ------------------------------------------------------------
a) Name TIM TOZER
-------- ------------------------------- ---------------------------
2. Reason for the notification ISSUE OF LTIP OPTIONS
-------- ------------------------------- ---------------------------
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
identification code
GB00B1GK4645
Identification code
-------- ------------------------------- ---------------------------
b) Nature of the transaction ACCEPTANCE OF OPTION OVER
ORDINARY SHARES OF 10p
EACH IN VERTU MOTORS PLC,
PURSUANT TO THE COMPANY'S
LONG TERM INCENTIVE PLAN
-------- ------------------------------- ---------------------------
c) Price(s) and volume(s)
Price Volume(s)
------- ----------
NIL 113,636
------- ----------
-------- ------------------------------------------------------------
d) Aggregated information NOT APPLICABLE - SINGLE
TRANSACTION
-Aggregated volume
- Price
-------- ------------------------ ------------------------
e) Date of the transaction 23 JUNE 2017
-------- ------------------------ ------------------------
f) Place of transaction LONDON STOCK EXCHANGE,
AIM
-------- ------------------------ ------------------------
- Ends -
For further information please contact:
Vertu Motors plc
Robert Forrester, CEO Tel: 0191 491
2111
Michael Sherwin, CFO Tel: 0191 491
2114
Canaccord Genuity Limited
Bruce Garrow Tel: 020 7523 8000
Chris Connors
Richard Andrews
Zeus Capital Limited
Dominic King Tel: 020 3829 5000
Camarco
Billy Clegg Tel: 020 3757 4983
Georgia Edmonds
Notes to Editors
Vertu Motors, the UK automotive retailer with a proven growth
strategy, is the fifth largest automotive retailer in the UK with a
network of 124 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 121 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 company news service from the London Stock Exchange
END
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