Source - LSE Regulatory
RNS Number : 0334L
Vertu Motors PLC
01 September 2023
 

1 September 2023




Vertu Motors plc

 




("Vertu Motors" or the "Company")





Transaction in Own Shares

 








Vertu Motors plc (AIM: VTU) announces that on 31 August 2023 it purchased 37,816 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


31 August 2023

Number of ordinary shares purchased

37,816


Highest price paid per ordinary share

69.1 pence

Lowest price paid per ordinary share

69 pence


Volume weighted average price paid per ordinary share

69.0661 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 341,282,768 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:        

31 August 2023







Aggregate information:

 







Aggregated Volume

Volume-weighted
average price (pence)

Venue

 

37,816

69.0661

London Stock Exchange









Individual transactions:

 







12,816

69.00 pence

08:09 UK


165

69.10 pence

12:24 UK


2,143

69.10 pence

12:24 UK


160

69.10 pence

12:24 UK


4,116

69.10 pence

12:24 UK


18,416

69.10 pence

12:37 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.vertumotorcyles.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
 
 
POSUAORROUUWOUR
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Vertu Motors PLC (VTU)

-0.30p (-0.38%)
delayed 17:36PM