Source - LSE Regulatory
RNS Number : 3245R
Vertu Motors PLC
26 October 2023
 

26 October 2023




Vertu Motors plc

 




("Vertu Motors" or the "Company")





Transaction in Own Shares

 








Vertu Motors plc (AIM: VTU) announces that on 25 October 2023 it purchased 43,516 ordinary shares of 10p each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 9 October 2023, as follows (together the "Transaction"):                          





Date of purchase


25 October 2023

Number of ordinary shares purchased

43,516


Highest price paid per ordinary share

74 pence

Lowest price paid per ordinary share

74 pence


Volume weighted average price paid per ordinary share

74 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 340,781,234 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:        

25 October 2023







Aggregate information:

 







Aggregated Volume

Volume-weighted
average price (pence)

Venue

 

43,516

74

London Stock Exchange









Individual transactions:

 







372

74.00 pence

11:00 UK


 265

74.00 pence

12:10 UK


 639

74.00 pence

12:27 UK


 161

74.00 pence

15:16 UK


 20,321

74.00 pence

15:16 UK


 10,183

74.00 pence

15:16 UK


 6,997

74.00 pence

15:16 UK


 401

74.00 pence

15:16 UK


 1,351

74.00 pence

15:16 UK


 41

74.00 pence

15:16 UK


 2,785

74.00 pence

15:16 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 190 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 186 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

 

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