VERTU MOTORS PLC

Remuneration Information • Mar 11, 2020

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RNS Number : 7481F

Vertu Motors PLC

11 March 2020

11 March 2020

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 persons discharging managerial responsibility in the Company ("Options").  The Options were made under a new Partnership Share Scheme introduced by the Company and are a percentage of target earnings calculated using the Company's share price at the start of the financial year.  The Options were issued on 9 March 2020 as detailed below: 

PDMR	Number of Ordinary Shares subject to the Options	Resultant number of Ordinary Shares subject to options	Beneficial holding of Ordinary Shares excluding options*
Ian Harrison	269,716	1,452,047	228,931
Colin Kent	269,716	1,022,047	442,663
Michael Rich	269,716	1,452,047	43,497
Christopher Taylor	255,520	1,187,851	292,241
Jatinder Aujla	269,716	992,047	99,921
Stephen Gould	255,520	1,055,520	7,933
Leon Caruso	255,520	455,520	4,390

Vesting of the Options is pro rata to the individual's achievement of a variety of annual bonus targets for the financial year, and vested Options are then subject to a further three-year holding period before they can be exercised.   

The Company's issued share capital consists of 369,173,981 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

IAN HARRISON

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	269,716

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

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

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

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	269,716

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

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	269,716

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

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	255,520

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

1.    

Details of the person discharging managerial responsibilities/person closely associated

a)    

Name

JATINDER AUJLA

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	269,716

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

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	255,520

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

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	255,520

d)      

Aggregated information

-Aggregated volume

- Price

NOT APPLICABLE - SINGLE TRANSACTION

e)      

Date of the transaction

9 March 2020

f)

Place of transaction

OUTSIDE A TRADING VENUE

- 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 133 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 130 franchised sales outlets and 3 non-franchised sales operations from 110 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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