6 September 2016
Vertu Motors plc
(the "Company")
Notification of Directors' and PDMR's interests
The Company has been notified of the exercise by persons discharging managerial responsibility ("PDMR") in the Company of options over ordinary shares of 10p each in the Company ("Ordinary Shares"), under the Vertu 2013 Long Term Incentive Plan ("LTIP Options"). The LTIP Options were exercised as detailed below on 5 September 2016 resulting in the acquisition of Ordinary Shares as set out below, by way of transfer from the Company's Employee Benefit Trust.
The Company has also been notified that Michael Sherwin, a director and PDMR, has sold 50,471 of the 107,166 Ordinary Shares exercised, to satisfy the resultant income tax and National Insurance liability, and that Mike Rich, a PDMR, has sold 25,235 of the 53,583 Ordinary Shares exercised to satisfy the resultant income tax and National Insurance liability. The sales took place on 5 September 2016 at a price of 49.75 pence per Ordinary Share.
PDMR |
Beneficial holding of Ordinary Shares prior to the Dealings* |
% of issued share capital prior to the Dealings* |
Ordinary Shares acquired by PDMR |
Resultant Beneficial holding of Ordinary Shares after the Dealings* |
Resultant % of issued share capital after the Dealings* |
Robert Forrester |
6,782,719 |
1.71 |
142,887 |
6,925,606 |
1.74 |
Michael Sherwin |
428,298 |
0.11 |
56,695 |
484,993 |
0.12 |
Jatinder Aujla |
11,632 |
0.00 |
53,583 |
65,215 |
0.02 |
Ian Harrison |
163,155 |
0.04 |
53,583 |
216,738 |
0.05 |
Colin Kent |
367,740 |
0.09 |
53,583 |
421,323 |
0.11 |
Mike Rich |
7,346 |
0.00 |
28,348 |
35,694 |
0.02 |
Chris Taylor |
189,281 |
0.05 |
53,583 |
242,864 |
0.06 |
*includes shares held by persons closely associated with the PDMR.
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 |
ACQUISITION OF SHARES |
a) |
Position/status |
CEO |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
142,887 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
MICHAEL SHERWIN |
2. |
Reason for the notification |
ACQUISITION OF SHARES |
a) |
Position/status |
CFO |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
107,166 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
IAN HARRISON |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
53,583 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
53,583 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
MIKE RICH |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
53,583 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
JATINDER AUJLA |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
53,583 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
CHRIS 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 financial instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
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 |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
NIL |
53,583 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
MICHAEL SHERWIN |
2. |
Reason for the notification |
SALE OF SHARES |
a) |
Position/status |
CFO |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
Nature of the transaction |
SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
49.75p |
50,471 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
f) |
Place of transaction |
LONDON STOCK EXCHANGE, AIM |
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 |
MIKE RICH |
2. |
Reason for the notification |
SALE 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 |
c) |
Name |
VERTU MOTORS PLC |
d) |
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 instrument, type of instrument identification code Identification code |
ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC GB00B1GK4645 |
b) |
Nature of the transaction |
SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC |
c) |
Price(s) and volume(s)
Price |
Volume(s) |
49.75p |
25,235 |
|
d) |
Aggregated information -Aggregated volume - Price |
NOT APPLICABLE - SINGLE TRANSACTION |
e) |
Date of the transaction |
5 SEPTEMBER 2016 |
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, FD |
Tel: 0191 491 2114 |
Liberum |
|
Peter Tracey |
Tel: 020 3100 2000 |
Richard Crawley |
Jamie Richards |
Zeus Capital Limited |
Adam Pollock |
Tel: 020 7533 7727 |
Camarco |
Billy Clegg |
Tel: 020 3757 4983 |
Georgia Mann |
|
Tom Huddart |
|
|
|
|
Notes to Editors
Vertu, the UK automotive retailer with a proven growth strategy, is the fifth largest automotive retailer in the UK with a network of 132 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell, South Hereford Garages and Macklin Motors brand names.
Vertu was established in November 2006 with the strategy to consolidate the UK automotive retail sector. It is intended that the Group will continue to acquire automotive 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 129 franchised sales outlets and 3 non-franchised sales operations from 109 locations across the UK.
Vertu Group websites - www.vertumotors.com / www.vertucareers.com
Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.southherefordgarages.co.uk / www.vertumercedes-benz.com
