TIDMVTU

RNS Number : 1549P

Vertu Motors PLC

14 October 2021

14 October 2021

Vertu Motors plc

(the "Company")

Notification of PDMR's interests

The Company announces that it was notified on 14 October 2021 that Ian Harrison, 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 13 October 2021, that were issued in November 2011 under the Vertu Company Share Option Plan . The Company has also been notified that Ian Harrison sold 21,260 of the 30,000 Ordinary Shares received to satisfy the associated exercise price and income tax and National Insurance liability. The sale took place on 13 October 2021 at a price of 58.1 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* 
 Ian Harrison             240,879            0.07%              8,740          249,619            0.07% 
                -----------------  ---------------  -----------------  ---------------  --------------- 
 

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

** net amount after the sales to satisfy the exercise price and tax and NI liability.

The Company also announces that it was notified on 14 October 2021 that Mike Rich, a person discharging managerial responsibility in the Company, had exercised the following options over Ordinary Shares, on 13 October 2021, all of which were settled in cash as permitted under the Vertu Company Share Option Plan rules.

 
 Mike Rich - Operations Director 
 Number of Options (Date       Exercise Price             Market Value on Date 
  of Grant)                                                of Exercise 
                              -------------------------  ------------------------ 
 30,000 Unapproved (November   26 pence per Ordinary      58.6 pence per Ordinary 
  2011)                         Share                      Share 
                              -------------------------  ------------------------ 
 400,000 Unapproved (June      27.5 pence per Ordinary    58.6 pence per Ordinary 
  2012)                         Share                      Share 
                              -------------------------  ------------------------ 
 30,000 Approved (October      39.25 pence per Ordinary   58.6 pence per Ordinary 
  2012)                         Share                      Share 
                              -------------------------  ------------------------ 
 

The Company's issued share capital consists of 367,191,910 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                               IAN HARRISON 
          ---------------------------------  ------------------------------------ 
      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       ORDINARY SHARES OF 10p EACH IN 
            instrument, type of instrument     VERTU MOTORS PLC 
            identification code 
 
            Identification code                GB00B1GK4645 
          ---------------------------------  ------------------------------------ 
      g)   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 
          ---------------------------------  ------------------------------------ 
      h)   Price(s) and volume(s) 
             Price   Volume(s) 
             0.26    30,000 
                    ---------- 
          ----------------------------------------------------------------------- 
      i)   Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
      j)   Date of the transaction            13 OCTOBER 2021 
          ---------------------------------  ------------------------------------ 
      k)   Place of transaction               OFF MARKET 
          ---------------------------------  ------------------------------------ 
 
 
      1.   Details of the person discharging managerial responsibilities/person 
            closely associated 
      a)   Name                               IAN HARRISON 
          ---------------------------------  ------------------------------------ 
      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 IN 
            instrument, type of instrument     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) 
             0.581   21,260 
                    ---------- 
          ----------------------------------------------------------------------- 
      i)   Aggregated information             NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          ---------------------------------  ------------------------------------ 
      j)   Date of the transaction            13 OCTOBER 2021 
          ---------------------------------  ------------------------------------ 
      k)   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       EXERCISE OF OPTION 
          --------------------------------  ---------------------------------------- 
      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 IN 
            instrument, type of instrument    VERTU MOTORS PLC 
            identification code 
 
            Identification code               GB00B1GK4645 
          --------------------------------  ---------------------------------------- 
      g)   Nature of the transaction         EXERCISE OF OPTIONS OVER ORDINARY 
                                              SHARES OF 10p EACH IN VERTU MOTORS 
                                              PLC, RECEIVED PURSUANT TO THE 
                                              COMPANY'S SHARE OPTION PLAN -SATISFIED 
                                              IN CASH 
          --------------------------------  ---------------------------------------- 
      h)   Price(s) and volume(s) 
             Price   Volume(s) 
             0.586   460,000 
                    ---------- 
          -------------------------------------------------------------------------- 
      i)   Aggregated information            NOT APPLICABLE - SINGLE TRANSACTION 
 
            -Aggregated volume 
 
            - Price 
          --------------------------------  ---------------------------------------- 
      j)   Date of the transaction           13 OCTOBER 2021 
          --------------------------------  ---------------------------------------- 
      k)   Place of transaction              OFF MARKET 
          --------------------------------  ---------------------------------------- 
 

- Ends -

For further information please contact:

 
 Vertu Motors plc 
 Robert Forrester, CEO   Tel: 0191 491 2121 
 Karen Anderson, CFO     Tel: 0191 491 2121 
 Zeus Capital Limited 
 Jamie Peel              Tel: 020 3829 5000 
  Andrew Jones 
  Dominic King 
 Camarco 
 Billy Clegg             Tel: 020 3757 4983 
  Tom Huddart 
 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 154 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 150 franchised sales outlets and 4 non-franchised sales operations from 118 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

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