Issue of Equity and Total Voting Rights

RNS Number : 7833G

Vertu Motors PLC

09 May 2014

 



9 May 2014

Vertu Motors plc ("Vertu" or the "Group")

Issue of equity and Total Voting Rights

Vertu announces the admission to trading on AIM of 3,410,475 new ordinary shares of 10p each (the "Consideration Shares") following completion of the acquisition of Hillendale Group Limited announced on 6 May 2014.  The Consideration Shares rank pari passu in all respects with the existing issued ordinary shares of 10 pence each in the share capital of Vertu.

Vertu has also applied to the London Stock Exchange for 26,400  new ordinary shares of 10 pence each (the "New Ordinary Shares") to be admitted to trading on AIM following the exercise of share options by certain employees under the Group's 2007 discretionary share option plan. It is expected that admission of the New Ordinary Shares will become effective on 14 May 2014. The New Ordinary Shares will, following allotment, rank pari passu in all respects with the existing issued ordinary shares of 10 pence each in the share capital of Vertu.

Following the above admissions, Vertu's issued share capital will be 340,219,932 ordinary shares of 10 pence each. The Company does not hold any ordinary shares in treasury. Therefore the total number of voting rights in the Company will be 340,219,932.

Shareholders may use this figure 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, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Michael Sherwin, FD	Tel: [phone]
Panmure Gordon (UK) Limited
Hugh Morgan	Tel: [phone]
Callum Stewart
Liberum Capital Limited
Peter Tracey	Tel: [phone]
Jamie Richards FTI Consulting
George Parker	Tel: [phone]

Notes to Editors

Vertu Motors is the sixth largest automotive retailer in the UK with a network of 108 sales and aftersales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell Land Rover 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 105 franchised sales outlets and 3 non-franchised sales operations from 89 locations across the UK.

Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com

Vertu Motors brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk

/ www.farnelllandrover.com / www.vertuvolkswagen.com/www.farnelljaguar.com

 

END

 

 

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