VERTU MOTORS PLC

Remuneration Information • Mar 12, 2024

National Storage Mechanism | Additional information

RNS Number : 5746G

Vertu Motors PLC

12 March 2024

12 March 2024

Vertu Motors plc

(the "Company")

Notification of Directors' and PDMRs' interests

The Company announces that it 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 on the date prior to the date of grant.  The Options were issued on 05 March 2024 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	426,600	1,873,261	7,489,518
David Crane	240,000	1,553,874	481,462
Karen Anderson	240,000	1,553,874	1,166,637
Colin Kent	128,571	1,167,144	449,251
Christopher Taylor	128,571	1,337,491	373,059
Michael Rich	128,571	1,373,853	49,537
Leon Caruso	128,571	867,144	10,430
Stephen Gould	128,571	837,491	30,493
Mark Gibbings	107,142	522,069	23,310
Anthony Masterson	107,142	261,818	57,412
Tom Garratt	96,428	251,092	34,508

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 28 February 2025, and vested Options are then subject to a further three-year holding period before they can be exercised (until March 2028).   

The Company's issued share capital consists of 337,602,150 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	426,600

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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	240,000

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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	240,000

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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

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	128,571

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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	128,571

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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	128,571

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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	128,571

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

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	128,571

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

f)    

Place of transaction

OUTSIDE A TRADING VENUE

1.  

Details of the person discharging managerial responsibilities/person closely associated

a)  

Name

MARK GIBBINGS

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	107,142

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

f)    

Place of transaction

OUTSIDE A TRADING VENUE

1.  

Details of the person discharging managerial responsibilities/person closely associated

a)  

Name

ANTHONY MASTERSON

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	107,142

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

f)    

Place of transaction

OUTSIDE A TRADING VENUE

1.  

Details of the person discharging managerial responsibilities/person closely associated

a)  

Name

TOM GARRATT

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	96,428

d)   

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)    

Date of the transaction

5 MARCH 2024

f)    

Place of transaction

OUTSIDE A TRADING VENUE

- ENDS -

Vertu Motors plc
Robert Forrester, CEO	Tel: 0191 491 2121
Karen Anderson, CFO Phil Clark, Investor relations	Tel: 0191 491 2121 PClark@vertumotors.com
Stifel
Matthew Blawat Nick Harland	Tel: 0207 710 7688
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 188 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 184 franchised sales outlets and 4 non-franchised sales operations from 143 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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