VERTU MOTORS PLC

Remuneration Information • Sep 5, 2019

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RNS Number : 4078L

Vertu Motors PLC

05 September 2019

5 September 2019

Vertu Motors plc

(the "Company")

Notification of Directors' interests

The Company announces that 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 ("LTIP Options").  The LTIP Options were made under the Vertu 2013 Long Term Incentive Plan, voted on by shareholders at the 2013 AGM.  The performance conditions attached to the LTIP Options were amended at the 2019 AGM.  The LTIP Options were issued on 3 September 2019 as detailed below: 

Director	Number of Ordinary Shares subject to the LTIP Options	Resultant number of Ordinary Shares subject to options
Robert Forrester	466,665*	1,139,468
Karen Anderson	350,876	1,434,849
David Crane	350,876	1,518,432

*includes 78,947 CSOP options which may be exercised as an alternative.

Vesting of the LTIP Options is dependent upon Adjusted Profit Before Tax targets for the Company over a three year performance period commencing on 1 March 2019. The LTIP Options can be exercised after three years from the date of grant but are subject to a further two year holding period such that shares awarded under these LTIP Options may not be sold until after five years from the date of grant.   

The Company's issued share capital consists of 369,683,252 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	466,665

i)

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)

Date of the transaction

3 September 2019

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

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	350,876

i)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

3 September 2019

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

COO

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	350,876

i)     

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

j)     

Date of the transaction

3 September 2019

k)    

Place of transaction

LONDON STOCK EXCHANGE, AIM

- Ends -

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Karen Anderson, CFO	Tel: 0191 491 2111 Tel: 0191 491 2112
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 123 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". 

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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