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VERTU MOTORS PLC
Director's Dealing • Oct 14, 2021
8007_dirs_2021-10-14_369f818b-c439-4a64-b6e7-3622309f0917.html
Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 1549P
Vertu Motors PLC
14 October 2021
14 October 2021
Vertu Motors plc
(the "Company")
Notification of PDMR's interests
The Company announces that it was notified on 14 October 2021 that Ian Harrison, a person discharging managerial responsibility in the Company, had exercised options over 30,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), on 13 October 2021, that were issued in November 2011 under the Vertu Company Share Option Plan. The Company has also been notified that Ian Harrison sold 21,260 of the 30,000 Ordinary Shares received to satisfy the associated exercise price and income tax and National Insurance liability. The sale took place on 13 October 2021 at a price of 58.1 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* |
| Ian Harrison | 240,879 | 0.07% | 8,740 | 249,619 | 0.07% |
* includes shares held by persons closely associated with the PDMR.
** net amount after the sales to satisfy the exercise price and tax and NI liability.
The Company also announces that it was notified on 14 October 2021 that Mike Rich, a person discharging managerial responsibility in the Company, had exercised the following options over Ordinary Shares, on 13 October 2021, all of which were settled in cash as permitted under the Vertu Company Share Option Plan rules.
| Mike Rich - Operations Director | ||
| Number of Options (Date of Grant) | Exercise Price | Market Value on Date of Exercise |
| 30,000 Unapproved (November 2011) | 26 pence per Ordinary Share | 58.6 pence per Ordinary Share |
| 400,000 Unapproved (June 2012) | 27.5 pence per Ordinary Share | 58.6 pence per Ordinary Share |
| 30,000 Approved (October 2012) | 39.25 pence per Ordinary Share | 58.6 pence per Ordinary Share |
The Company's issued share capital consists of 367,191,910 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury.
1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
IAN HARRISON
2.
Reason for the notification
ACQUISITION OF SHARES
b)
Position/status
OPERATIONS DIRECTOR
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
EXERCISE OF OPTION OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, PURSUANT TO THE COMPANY'S SHARE OPTION PLAN, RESULTING IN THE TRANSFER OF SHARES FROM THE COMPANY'S EBT
h)
Price(s) and volume(s)
| Price | Volume(s) |
| 0.26 | 30,000 |
i)
Aggregated information
-Aggregated volume
- Price
NOT APPLICABLE - SINGLE TRANSACTION
j)
Date of the transaction
13 OCTOBER 2021
k)
Place of transaction
OFF MARKET
1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
IAN HARRISON
2.
Reason for the notification
SALE OF SHARES
b)
Position/status
OPERATIONS DIRECTOR
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
SALE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S SHARE OPTION PLAN
h)
Price(s) and volume(s)
| Price | Volume(s) |
| 0.581 | 21,260 |
i)
Aggregated information
-Aggregated volume
- Price
NOT APPLICABLE - SINGLE TRANSACTION
j)
Date of the transaction
13 OCTOBER 2021
k)
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
EXERCISE OF OPTION
b)
Position/status
OPERATIONS DIRECTOR
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
EXERCISE OF OPTIONS OVER ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC, RECEIVED PURSUANT TO THE COMPANY'S SHARE OPTION PLAN -SATISFIED IN CASH
h)
Price(s) and volume(s)
| Price | Volume(s) |
| 0.586 | 460,000 |
i)
Aggregated information
-Aggregated volume
- Price
NOT APPLICABLE - SINGLE TRANSACTION
j)
Date of the transaction
13 OCTOBER 2021
k)
Place of transaction
OFF MARKET
- Ends -
For further information please contact:
| Vertu Motors plc | |
| Robert Forrester, CEO | Tel: 0191 491 2121 |
| Karen Anderson, CFO | Tel: 0191 491 2121 |
| 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 fifth largest automotive retailer in the UK with a network of 154 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 150 franchised sales outlets and 4 non-franchised sales operations from 118 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".
Vertu Motors Group websites - investors.vertumotors.com / www.vertucareers.com
Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.macklinmotors.co.uk
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