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Vertu Motors Plc

Vertu Motors plc Chairman increases holding in company

Vertu Motors plc (LON:VTU) announced today that it was notified on 6 November 2018, of the following acquisition in the Company’s ordinary shares of 10p each by Peter Jones, Chairman and director in the Company. The Dealing took place on 6 November 2018 at a price of 36.75p per Ordinary Share:

 

 

 

 

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*

Peter Jones

1,522,000

0.40

228,000

1,750,000

0.46

*includes shares held by the Director’s PCAs.

The Company’s issued share capital consists of 377,581,736 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

PETER JONES

2.

Reason for the notification

ACQUISITION OF SHARES

a)

Position/status

CHAIRMAN

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)

£0.3675

228,000

d)

Aggregated information

-Aggregated volume

– Price

NOT APPLICABLE – SINGLE TRANSACTION

e)

Date of the transaction

6 NOVEMBER 2018

f)

Place of transaction

LONDON STOCK EXCHANGE, AIM

Vertu Motors is the sixth largest automotive retailer in the UK with a network of 125 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell and Macklin Motors brand names.

Vertu Motors plc 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 122 franchised sales outlets and 3 non-franchised sales operations from 106 locations across the UK

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.