Notification of Directors' interests

RNS Number : 7481F
Vertu Motors PLC
11 March 2020
 

11 March 2020

Vertu Motors plc

(the "Company")

Notification of Directors' interests

 

The Company announces that 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 ("Options") .   The Options were made under a new Partnership Share Scheme introduced by the Company and are a percentage of target earnings calculated using the Company's share price at the start of the financial year.  The Options were issued on 9 March 2020 as detailed below: 

 

 

 

 

PDMR

Number of Ordinary Shares subject to the Options

 

Resultant number of Ordinary Shares subject to options

 

Beneficial holding of Ordinary Shares excluding options*

 

Ian Harrison

269,716

1,452,047

228,931

Colin Kent

269,716

1,022,047

442,663

Michael Rich

269,716

1,452,047

43,497

Christopher Taylor

255,520

1,187,851

292,241

Jatinder Aujla

269,716

992,047

99,921

Stephen Gould

255,520

1,055,520

7,933

Leon Caruso

255,520

455,520

4,390

 

Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the financial year, and vested Options are then subject to a further three-year holding period before they can be exercised.   

The Company's issued share capital consists of 369,173,981 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

IAN HARRISON

2. 

Reason for the notification

ISSUE OF 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 financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

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

269,716

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

COLIN KENT

2. 

Reason for the notification

ISSUE OF OPTIONS

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

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

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

269,716

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

MICHAEL RICH

2. 

Reason for the notification

ISSUE OF 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 financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

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

269,716

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

CHRISTOPHER TAYLOR

2. 

Reason for the notification

ISSUE OF 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 financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

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

255,520

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

JATINDER AUJLA

2. 

Reason for the notification

ISSUE OF 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 financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

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

269,716

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

 STEPHEN GOULD

2. 

Reason for the notification

ISSUE OF 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 financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

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

255,520

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

1. 

Details of the person discharging managerial responsibilities/person closely associated

a) 

Name

LEON CARUSO

2. 

Reason for the notification

ISSUE OF 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 financial instrument, type of instrument identification code

 

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

 

 

GB00B1GK4645

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

255,520

d) 

Aggregated information

 

-Aggregated volume

 

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e) 

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

 

- Ends -

For further information please contact:

 

Vertu Motors plc
Robert Forrester, CEO
Karen Anderson, CFO

Tel: 0191 491 2111
Tel: 0191 491 2112

 

Zeus Capital Limited
Jamie Peel

Andrew Jones

Dominic King

Tel: 020 3829 5000

 

Camarco

Billy Clegg

Tom Huddart

Tel: 020 3757 4983

 

 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 133 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 130 franchised sales outlets and 3 non-franchised sales operations from 110 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". 

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

 


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