VERTU MOTORS PLC

Remuneration Information • Jul 18, 2018

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RNS Number : 9578U

Vertu Motors PLC

18 July 2018

18 July 2018

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 directors of 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 17 July 2018: 

Director	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	262,208	855,092	6,929.868
Michael Sherwin	196,656	641.320	489,253

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

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 2018. The performance criteria are the same as those approved by shareholders at the 2016 Annual General Meeting. The LTIP Options are then subject to a further two year holding period.  Further details are set out on page 104 - 106 of the 2018 annual report and accounts.  

The Company's issued share capital consists of 379,292,049 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	262,208

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	17 JULY 2018
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	196,656

i)	Aggregated information -Aggregated volume - Price	NOT APPLICABLE - SINGLE TRANSACTION
j)	Date of the transaction	17 JULY 2018
k)	Place of transaction	LONDON STOCK EXCHANGE, AIM

- Ends -

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Michael Sherwin, CFO	Tel: 0191 491 2111 Tel: 0191 491 2112
Canaccord Genuity Limited Chris Connors Henry Fitzgerald-O'Connor Richard Andrews	Tel: 020 7523 8000
Zeus Capital Limited Dominic King	Tel: 020 3829 5000
Camarco Billy Clegg Tom Huddart	Tel: 020 3757 4983

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 125 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 122 franchised sales outlets and 3 non-franchised sales operations from 106 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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