VERTU MOTORS PLC

Transaction in Own Shares • Sep 6, 2016

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RNS Number : 0083J

Vertu Motors PLC

06 September 2016

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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