VERTU MOTORS PLC

Remuneration Information • Mar 7, 2023

National Storage Mechanism | Additional information

RNS Number : 1936S

Vertu Motors PLC

07 March 2023

7 March 2023

Vertu Motors plc

(the "Company")

Notification of Directors' and PDMRs' interests

The Company announces that the Company made grants of nil-cost options over ordinary shares of 10p each in the Company ("Ordinary Shares") to directors of, and persons discharging managerial responsibility in, the Company ("Options").  The Options were made under the Partnership Share Scheme, part of the Company's Long Term Incentive Plan, and are a percentage of target earnings calculated using the Company's closing share price at the date prior to the date of grant.  The Options were issued on 6 March 2023 as detailed below: 

Director	Number of Ordinary Shares subject to the Options	Resultant number of Ordinary Shares subject to options	Beneficial holding of Ordinary Shares excluding options
Robert Forrester	484,772	1,446,661	7,486,575
David Crane	272,727	1,313,874	465,479
Karen Anderson	272,727	1,313,874	1,163,694
Ian Harrison	146,103	1,218,384	392,908
Colin Kent	146,103	1,218,384	449,251
Christopher Taylor	146,103	1,208,920	370,116
Michael Rich	146,103	1,246,910	46,594
Leon Caruso	146,103	908,920	7,487
Stephen Gould	146,103	708,920	19,881
Mark Gibbings	121,753	414,927	20,367

Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the current financial year, ending 29 February 2024, and vested Options are then subject to a further three-year holding period before they can be exercised (until March 2027).   

The Company's issued share capital consists of 348,945,522 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

ISSUE OF OPTIONS

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

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	484,772

d)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

6 MARCH 2023

f)      

Place of transaction

OUTSIDE A TRADING VENUE

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

DAVID CRANE

2.      

Reason for the notification

ISSUE OF OPTIONS

b)     

Position/status

COO

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	272,727

d)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

6 MARCH 2023

f)      

Place of transaction

OUTSIDE A TRADING VENUE

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

KAREN ANDERSON

2.      

Reason for the notification

ISSUE OF OPTIONS

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

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	272,727

d)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

6 MARCH 2023

f)      

Place of transaction

OUTSIDE A TRADING VENUE

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	146,103

d)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

6 MARCH 2023

f)      

Place of transaction

OUTSIDE A TRADING VENUE

5.    

Details of the person discharging managerial responsibilities/person closely associated

b)    

Name

COLIN KENT

6.      

Reason for the notification

ISSUE OF OPTIONS

c)    

Position/status

OPERATIONS DIRECTOR

d)     

Initial notification/Amendment

INITIAL NOTIFICATION

7.      

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

c)    

Name

VERTU MOTORS PLC

d)     

LEI

213800GIKJEIUIGMI575

8.      

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

g)    

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

h)      

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

i)

Price(s) and volume(s)

Price	Volume(s)
NIL	146,103

j)

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

k)      

Date of the transaction

6 MARCH 2023

l)

Place of transaction

OUTSIDE A TRADING VENUE

9.    

Details of the person discharging managerial responsibilities/person closely associated

c)    

Name

CHRISTOPHER TAYLOR

10.    

Reason for the notification

ISSUE OF OPTIONS

e)    

Position/status

OPERATIONS DIRECTOR

f)      

Initial notification/Amendment

INITIAL NOTIFICATION

11.    

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

e)    

Name

VERTU MOTORS PLC

f)      

LEI

213800GIKJEIUIGMI575

12.    

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

m)   

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

n)      

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

o)     

Price(s) and volume(s)

Price	Volume(s)
NIL	146,103

p)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

q)     

Date of the transaction

6 MARCH 2023

r)      

Place of transaction

OUTSIDE A TRADING VENUE

13.   

Details of the person discharging managerial responsibilities/person closely associated

d)    

Name

MICHAEL RICH

14.    

Reason for the notification

ISSUE OF OPTIONS

g)    

Position/status

OPERATIONS DIRECTOR

h)      

Initial notification/Amendment

INITIAL NOTIFICATION

15.    

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

g)    

Name

VERTU MOTORS PLC

h)      

LEI

213800GIKJEIUIGMI575

16.    

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

s)    

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

t)      

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

u)      

Price(s) and volume(s)

Price	Volume(s)
NIL	146,103

v)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

w)     

Date of the transaction

6 MARCH 2023

x)      

Place of transaction

OUTSIDE A TRADING VENUE

17.   

Details of the person discharging managerial responsibilities/person closely associated

e)    

Name

LEON CARUSO

18.    

Reason for the notification

ISSUE OF OPTIONS

i)     

Position/status

OPERATIONS DIRECTOR

j)

Initial notification/Amendment

INITIAL NOTIFICATION

19.    

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

i)     

Name

VERTU MOTORS PLC

j)

LEI

213800GIKJEIUIGMI575

20.    

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

y)    

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

z)      

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

aa)    

Price(s) and volume(s)

Price	Volume(s)
NIL	146,103

bb)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

cc)    

Date of the transaction

6 MARCH 2023

dd)   

Place of transaction

OUTSIDE A TRADING VENUE

21.   

Details of the person discharging managerial responsibilities/person closely associated

f)     

Name

STEPHEN GOULD

22.    

Reason for the notification

ISSUE OF OPTIONS

k)    

Position/status

OPERATIONS DIRECTOR

l)

Initial notification/Amendment

INITIAL NOTIFICATION

23.    

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

k)    

Name

VERTU MOTORS PLC

l)

LEI

213800GIKJEIUIGMI575

24.    

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

ee)   

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

ff)     

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

gg)   

Price(s) and volume(s)

Price	Volume(s)
NIL	146,103

hh)    

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

ii)      

Date of the transaction

6 MARCH 2023

jj)      

Place of transaction

OUTSIDE A TRADING VENUE

25.   

Details of the person discharging managerial responsibilities/person closely associated

g)    

Name

MARK GIBBINGS

26.    

Reason for the notification

ISSUE OF OPTIONS

m)   

Position/status

OPERATIONS DIRECTOR

n)      

Initial notification/Amendment

INITIAL NOTIFICATION

27.    

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

m)   

Name

VERTU MOTORS PLC

n)      

LEI

213800GIKJEIUIGMI575

28.    

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

kk)   

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

ll)      

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

mm)  

Price(s) and volume(s)

Price	Volume(s)
NIL	146,103

nn)    

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

oo)   

Date of the transaction

6 MARCH 2023

pp)   

Place of transaction

OUTSIDE A TRADING VENUE

- Ends -

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: 0191 491 2121
Karen Anderson, CFO Phil Clark, Investor relations	Tel: 0191 491 2121 PClark@vertumotors.com
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 fourth largest automotive retailer in the UK with a network of 191 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 187 franchised sales outlets and 4 non-franchised sales operations from 142 locations across the UK.

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

Vertu Motors Group websites - https://investors.vertumotors.com/ /www.vertucareers.com

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcyles.com

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