Grant of Options under SAYE Scheme

RNS Number : 4794Y
Motorpoint Group plc
14 January 2022
 

14 January 2022

Motorpoint Group Plc

("Motorpoint" or "the Company")

 

Grant of Options under SAYE Scheme

 

Motorpoint, the UK's largest independent omni-channel vehicle retailer, is pleased to announce that it launched its 2022 Save As You Earn ("SAYE") share scheme for all its permanent employees on 20 December 2021.  The SAYE scheme is approved by HM Revenue and Customs.

 

Eligible employees were invited to subscribe for options over the Company's Ordinary Shares of 1 pence each ("Shares") at an exercise price of 276.00 pence, representing a 20% discount to the closing middle market price of the Shares on 26 November 2021 ("Options"), the dealing day before the invitation to participate was made.  The exercise price was calculated in accordance with the rules of the SAYE scheme. The Options have a contract start date of 1 February 2022 and are exercisable between 1 February 2025 and 31 July 2025.

 

A total of 387 employees (including two members of Motorpoint's senior management, persons discharging managerial responsibility ("PDMR")) out of 887 elected to participate in the SAYE scheme.  Pursuant to these elections, a total of 403,215 Shares under Option were granted on 20 December 2021, equating to 0.45% of the current issued share capital.

 

Mark Carpenter, Chief Executive Officer of the Company, and Chris Morgan, Chief Financial Officer, both PDMRs, elected to participate in the SAYE scheme and are included in the total figures above. Pursuant to the 2022 SAYE scheme, they each have 1,304 Shares under Option.

 

The notifications at the end of the announcement, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail of the Options granted.

 

For further information, please contact:

 

Motorpoint Group Plc (www.motorpointplc.com)

Chris Morgan, Company Secretary

 

Via FTI Consulting

FTI Consulting (Financial PR)

Alex Beagley

Sam Macpherson

Amy Goldup

 

020 3727 1000

 

Notes to editors

Motorpoint is the UK's leading independent E-commerce led omnichannel vehicle retailer, focused on giving retail and trade customers the easiest, most affordable and seamless way of buying, selling and financing their car whether online, in-store or a combination of both. Through its leading B2C platform Motorpoint.co.uk and UK network of 15 sales and collection branches, the Group provides an unrivalled offering in the nearly new car market, where consumers can effortlessly browse, buy or finance their next car and collect or have it delivered directly to their homes. Motorpoint's purely online wholesale platform Auction4Cars.com sells vehicles into the wholesale B2B market that have been part exchanged by retail customers, or purchased directly from them by the Group as part of its online car buying service. Motorpoint's diversified business model, underpinned by its established brand, industry leading technology and sophisticated marketing infrastructure, always delivers the best value, choice, quality and service for customers. The Group is proud to have been recognised for seven consecutive years as one of the Sunday Times' Top 100 Best Companies to Work For.  

 

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

 

 

 Mark Carpenter

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Motorpoint Group Plc

 

b)

 

LEI

 

 

213800WG8RSE45I3MF22

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

 

 

Ordinary shares of £0.01 each  in Motorpoint Group plc ("Ordinary Shares)

 

GB00BD0SFR60

 

b)

 

Nature of the transaction

 

 

Grant of Options under the Motorpoint Group Plc Sharesave Plan 2022

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

Option Price 276.00 pence

 

1304 options over Ordinary Shares

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

N/A (single transaction)

 

e)

 

Date of the transaction

 

 

20.12.2021

f)

 

Place of the transaction

 

 

Outside of a trading venue

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Chris Morgan

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Financial Officer

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Motorpoint Group Plc

 

b)

 

LEI

 

 

213800WG8RSE45I3MF22

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

 

 

Ordinary shares of £0.01 each  in Motorpoint Group plc ("Ordinary Shares)

 

GB00BD0SFR60

 

b)

 

Nature of the transaction

 

 

Grant of Options under the Motorpoint Group Plc Sharesave Plan 2022

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

Option Price 276.00 pence

 

1304 options over Ordinary Shares

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

N/A (single transaction)

 

e)

 

Date of the transaction

 

 

20.12.2021

f)

 

Place of the transaction

 

 

Outside of a trading venue

 

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 rns@lseg.com 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
 
 
DSHVZLBFLFLEBBF
UK 100

Latest directors dealings