25 October 2024
Vertu Motors plc ("Vertu Motors" or "Company")
EBT Share Purchase
Vertu Motors announces that it was notified on 24 October 2024 of the following acquisition ("Dealing") of the Company's ordinary shares of 10p each ("Ordinary Shares") by Ocorian Limited ("Trustee"), the trustee of the Company's employee benefit trust. The Dealing took place on 24 October 2024 at a price of 66.5745 pence per Ordinary Share.
The acquired shares were purchased by the Trustee to be held for the purposes of the employee benefit trust and may be used to transfer shares to individuals when options are exercised. This will include the Company's Long Term Incentive Plan, under which each of the executive directors of the Company and other PDMRs are potential participants. They are therefore regarded as having a notional interest in the acquired shares.
| | Beneficial holding of Ordinary Shares prior to the Dealing | % of issued share capital prior to the Dealing | Ordinary Shares acquired | Resultant Beneficial holding of Ordinary Shares after the Dealing | Resultant % of issued share capital after the Dealing |
| Trustee | 3,857,692 | 1.15% | 260,000 | 4,117,692 | 1.23% |
The Company's issued share capital consists of 334,114,357 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 | OCORIAN LIMITED | ||||
| 2. | Reason for the notification | ACQUISITION OF SHARES | ||||
| a) | Position/status | EBT TRUSTEE | ||||
| 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 | PURCHASE OF ORDINARY SHARES OF 10p EACH IN VERTU MOTORS PLC | ||||
| c) | Price(s) and volume(s)
| |||||
| d) | Aggregated information
-Aggregated volume
- Price |
n/a
n/a
| ||||
| e) | Date of the transaction | 24 OCTOBER 2024 | ||||
| f) | Place of transaction | LONDON STOCK EXCHANGE, AIM | ||||
- ENDS -
For further information please contact:
|
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 4980 |
Notes to Editors
Vertu Motors is the fourth largest automotive retailer in the UK with a network of 193 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 190 franchised sales outlets and 3 non-franchised sales operations from 145 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.vertumotorcycles.com
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