VERTU MOTORS PLC

Remuneration Information • Jun 26, 2017

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RNS Number : 0818J

Vertu Motors PLC

26 June 2017

26 June 2017

Vertu Motors plc

(the "Company")

Notification of Directors' interests

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, under the Vertu 2013 Long Term Incentive Plan voted on by shareholders at the 2013 AGM and 2016 AGM ("LTIP Options").  The LTIP Options were issued as detailed below on 23 June 2017: 

PDMR	Number of Ordinary Shares subject to the LTIP Options**	Resultant number of Ordinary Shares subject to options	Beneficial holding of Ordinary Shares  excluding options*
Robert Forrester	303,030	798,012	6,925,608
Michael Sherwin	227,273	598,510	484,993
David Crane	113,636	812,838	154,137
Karen Anderson	113,636	812,838	756,926
Ian Harrison	113,636	834,255	216,738
Colin Kent	113,636	729,255	421,323
Mike Rich	113,636	759,255	35,694
Chris Taylor	113,636	640,415	242,864
Jatinder Aujla	113,636	299,255	65,215
Tim Tozer	113,636	299,255	13,000

*includes shares held by persons closely associated with the PDMR.

**includes a CSOP option in respect of 68,181 Ordinary Shares which may be exercised instead of 68,181 of the LTIP Options. 

Vesting of the LTIP Options is dependent upon stretching absolute growth in the Company's total shareholder return and stretching return on equity achieved by the Company over a three year performance period commencing on 1 March 2017. The performance criteria are the same as those approved by shareholders at last year's Annual General Meeting. The LTIP Options are then subject to a further two year holding period.  Further details are set out on page 54 of the 2017 annual report and accounts.  

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

ISSUE OF LTIP OPTIONS

b)      

Position/status

CEO

c)      

Initial notification/Amendment

INITIAL NOTIFICATION

3.      

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

d)      

Name

VERTU MOTORS PLC

e)      

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

f)

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

g)      

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

h)      

Price(s) and volume(s)

Price	Volume(s)
NIL	303,030

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	23 JUNE 2017
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

MICHAEL SHERWIN

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

b)    

Position/status

CFO

c)    

Initial notification/Amendment

INITIAL NOTIFICATION

3.    

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

d)    

Name

VERTU MOTORS PLC

e)    

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

f)     

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

g)    

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

h)    

Price(s) and volume(s)

Price	Volume(s)
NIL	227,273

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	23 JUNE 2017
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

DAVID CRANE

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

b)    

Position/status

CHIEF OPERATIONS OFFICER

c)    

Initial notification/Amendment

INITIAL NOTIFICATION

3.    

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

d)    

Name

VERTU MOTORS PLC

e)    

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

f)     

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

g)    

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

h)    

Price(s) and volume(s)

Price	Volume(s)
NIL	113,636

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	23 JUNE 2017
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

KAREN ANDERSON

2.    

Reason for the notification

ISSUE OF LTIP OPTIONS

b)    

Position/status

COMPANY SECRETARY

c)    

Initial notification/Amendment

INITIAL NOTIFICATION

3.    

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

d)    

Name

VERTU MOTORS PLC

e)    

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

f)     

Description of the financial instrument, type of instrument identification code

Identification code

ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC

GB00B1GK4645

g)    

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

h)    

Price(s) and volume(s)

Price	Volume(s)
NIL	113,636

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	23 JUNE 2017
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

IAN HARRISON

2.    

Reason for the notification

ISSUE OF LTIP 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	113,636

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	23 JUNE 2017
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

COLIN KENT

2.    

Reason for the notification

ISSUE OF LTIP 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	113,636

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	23 JUNE 2017
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

MIKE RICH

2.    

Reason for the notification

ISSUE OF LTIP 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	113,636

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	23 JUNE 2017
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

JATINDER AUJLA

2.    

Reason for the notification

ISSUE OF LTIP 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	113,636

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	23 JUNE 2017
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

CHRIS TAYLOR

2.    

Reason for the notification

ISSUE OF LTIP 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	113,636

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	23 JUNE 2017
f)	Place of transaction	LONDON STOCK EXCHANGE, AIM

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

TIM TOZER

2.    

Reason for the notification

ISSUE OF LTIP 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	113,636

d)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
e)	Date of the transaction	23 JUNE 2017
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, CFO	Tel: 0191 491 2114
Canaccord Genuity Limited
Bruce Garrow                                                                         Tel: 020 7523 8000
Chris Connors
Richard Andrews
Zeus Capital Limited
Dominic King	Tel: 020 3829 5000
Camarco
Billy Clegg	Tel: 020 3757 4983
Georgia Edmonds

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the fifth largest automotive retailer in the UK with a network of 124 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 121 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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