VTU.L

Vertu Motors Plc
Vertu Motors PLC - EBT Share Purchase
6th November 2024, 07:01
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 0816L
Vertu Motors PLC
06 November 2024
 

6 November 2024

 

Vertu Motors plc ("Vertu Motors" or "Company")

EBT Share Purchase

Vertu Motors announces that it was notified on 5 November 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 5 November 2024 at a price of 67.4976 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

6,816,569

2.04%

1,057,741

7,874,310

2.36%

The Company's issued share capital consists of 333,275,181 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)

 

Price

Volume(s)

0.674976

1,057,741

d)        

Aggregated information

 

-Aggregated volume

 

- Price

 

 

n/a

 

n/a

 

e)        

Date of the transaction

5 NOVEMBER 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 202 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 198 franchised sales outlets and 4 non-franchised sales operations from 154 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

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHFFFEFLSLEIIS]]>
TwitterFacebookLinkedIn