Vertu Motors PLC
20 December 2006
20th December 2006
Vertu Motors plc ('Vertu' or the 'Company')
Successful £25.0 million fund raising and admission to AIM
Vertu Motors plc, the newly incorporated company seeking to acquire and
consolidate UK motor retail businesses, has today been admitted to the AIM
market of London Stock Exchange plc. £25.0 million (£23.6 million net of
expenses) was raised for Vertu via an over-subscribed placing of 41,666,667
shares at a price of 60p per ordinary share, valuing the Company at £28.0
million.
Brewin Dolphin Securities is the nominated advisor and broker to Vertu Motors
plc.
Robert Forrester, CEO of Vertu Motors plc said:
'Vertu believes that it is excellently placed to contribute to the on-going
consolidation of the highly fragmented motor retail market. I would like to
thank our new shareholders for their significant support at the start of our
journey. The high level of demand for the issue and the resulting funds raised
will enable us to work closely with our manufacturer partners on a number of
exciting acquisition opportunities.'
- Ends -
For further information, call:
Andrew Kitchingman, Brewin Dolphin Securities Tel: 0845 270 8613
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
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.