Director Dealings

RNS Number : 1422Y

Vertu Motors PLC

28 August 2009

 



28 August 2009

Vertu Motors plc ('the Company')

Director dealings

On 27 August 2009 the following options were granted in the UK over ordinary shares of 10p each in the capital of the Company ('Ordinary Shares') to Karen Anderson at an exercise price of 41p per Ordinary Share:

Plan	Number of options
Vertu Motors plc 2007 Discretionary Share Option Plan ('Unapproved Plan')	73,170
Vertu Motors plc 2007 Discretionary Share Option Plan UK Approved Addendum ('Approved Plan').	526,830

The options granted ('the New Options') have been granted in parallel to options granted to her on 1 March 2007 and 27 March 2007 under the approved and unapproved Vertu Motors plc 2007 Enterprise Management Incentive Plan and on 21 May 2008 under the Company Share Option unapproved Plan ('together the Original Options').

The Optionholder will not be able to exercise both the New Options and the Original Options. If the New Options become exercisable, the Optionholder may decide to exercise these instead of her Original Options. It is also a term of the New Options that the Optionholder will only be able to exercise them if at the time of exercise she has not already exercised her Original Options. The Original Options will lapse on the exercise of the New Options.  

The New Options will become exercisable three years from the date of grant subject to performance conditions being satisfied and will lapse if not exercised within ten years of the date of grant.

Karen Anderson has a beneficial interest in 588,111 Ordinary Shares, representing 0.3% of the issued share capital of the Company. 

- Ends -

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Karen Anderson, FD	Tel: [phone]
Brewin Dolphin Investment Banking
Andrew Kitchingman	Tel: [phone]
Sean Wyndham-Quin
Panmure Gordon (UK) Limited
Andrew Burnett	Tel: [phone]
Stuart Gledhill
Financial Dynamics
Caroline Stewart	Tel: [phone]
Edward Westropp

 

END

 

 

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