Source - LSE Regulatory
RNS Number : 8888J
Vertu Motors PLC
21 August 2023
 

21 August 2023




Vertu Motors plc

 




("Vertu Motors" or the "Company")





Transaction in Own Shares

 








Vertu Motors plc (AIM: VTU) announces that on 18 August 2023 it purchased 324,124 ordinary shares of 10p each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 13 June 2023, as follows (together the "Transaction"):                          





Date of purchase


18 August 2023

Number of ordinary shares purchased

324,124


Highest price paid per ordinary share

70 pence

Lowest price paid per ordinary share

69.6 pence


Volume weighted average price paid per ordinary share

69.9085 pence





Application will be made for the Repurchased Shares to be cancelled. Following the cancellation of the Repurchased Shares, the total number of ordinary shares with voting rights will be 341,970,167 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Vertu Motors under the FCA's Disclosure Guidance and Transparency Rules. The Company holds no shares in treasury.





The Company will make further announcements in due course following the completion of any further purchases pursuant to the Buyback Programme.     





In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own ordinary shares by Vertu Motors, which were all executed through the Company's broker, Zeus Capital Limited ("Zeus"), are set out below:





Schedule of Purchases: 

 



Shares purchased:        

Vertu Motors plc (ISIN: GB00B1GK4645)

Date of purchases:        

18 August 2023







Aggregate information:

 







Aggregated Volume

Volume-weighted
average price (pence)

Venue

 

324,124

69.9085

London Stock Exchange









Individual transactions:

 







250,000

70.00 pence

15:34 UK


74,124

69.60 pence

16:00 UK










Vertu Motors plc

 

Tel: +44 (0) 191 491 2121

Robert Forrester, CEO


Karen Anderson, CFO






Zeus (Nominated Adviser and Broker)

Tel: +44 (0) 203 829 5000

Jamie Peel


Andrew Jones


Dominic King








Camarco

 

Tel: +44 (0) 203 757 4983

Billy Clegg




Tom Huddart












Notes to Editors

 



Vertu Motors is the fourth largest automotive retailer in the UK with a network of 189 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 185 franchised sales outlets and 4 non-franchised sales operations from 141 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.vertumotorcylces.com

 

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