Issue of Equity

RNS Number : 1835M

Vertu Motors PLC

19 May 2010

 



19 May 2010

Vertu Motors plc ("the Company")

Issue of Equity

Vertu Motors plc announces that at a Board meeting held on 17 May 2010 it agreed to allot 1,720,918 ordinary shares of 10p each in the Company at a price of 38.6p each.  The shares were issued today in satisfaction of the further consideration pursuant to the acquisition of Boydslaw 103 Limited, which was approved by shareholders in the General Meeting held on 29 January 2010.

Of the shares issued, Robert Forrester, Chief Executive of the Company, has received 337,435 Ordinary Shares as his share of the further consideration.

Following this transaction Mr Forrester and his connected persons are now interested in 5,756,682 Ordinary Shares representing 2.89 percent of the new issued share capital of the Company.

Application has been made for the admission of the new Ordinary Shares to trading on the AIM market of the London Stock Exchange.  Upon admission the enlarged issued share capital of the Company will consist of 199,278,032 Ordinary Shares.

- Ends -

For further information please contact:

Vertu Motors plc

Robert Forrester, CEO                                                              Tel: [phone]

Michael Sherwin, FD                                                                  Tel: [phone]

Brewin Dolphin Investment Banking

Alexander Dewar                                                                       Tel: [phone]

Panmure Gordon (UK) Limited

Andrew Burnett                                                                          Tel: [phone]

Financial Dynamics

Caroline Stewart                                                                        Tel: [phone]

 

END

 

 

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