Vertu Motors PLC
27 March 2007
27th March 2007
Vertu Motors plc ('Vertu Motors' or the 'Company')
Completion of the acquisition of Bristol Street Motors
Vertu Motors plc, the acquirer and consolidator of UK motor retail businesses,
announces that it has formally completed the acquisition of Bristol Street Group
Limited and the placing of £26.2 million of its ordinary shares, following
approval by shareholders at the Extraordinary General Meeting held on 26 March
2007 and the re-admission of the entire issued share capital of Vertu Motors to
trading on AIM ('Completion').
Following completion of the acquisition and placing, the Company has 90,828,254
ordinary 10p shares in issue.
Brewin Dolphin Securities is the nominated advisor and broker to Vertu Motors.
Robert Forrester, CEO of Vertu Motors said:
'We are delighted to have completed the acquisition of Bristol Street Motors,
Paul Williams and his team have worked tirelessly to bring this transaction to
fruition and it is my pleasure to welcome them into the Vertu Motors fold.
'The completion of this transaction is the first step in the delivery of our
strategy as set out at the time of our IPO and provides us with the perfect
platform from which we can take advantage of consolidation opportunities in the
UK motor retail market.'
- Ends -
For further information please contact:
Robert Forrester, CEO, Vertu Motors plc, Tel: 0191 206 4617
Andrew Kitchingman, Brewin Dolphin Securities, Tel: 0845 270 8613
Jonathon Brill/Billy Clegg/Edward Westropp, Financial Dynamics, Tel: 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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