Notice of General Meeting

Vertu Motors PLC
11 April 2008


11th April 2008

                                Vertu Motors plc                                

                           ('Vertu' or the 'Company')                           

                           Notice of General Meeting                            

Vertu, the 10th largest UK motor retail business, has today sent a circular to
shareholders providing formal notice of a general meeting to propose a Special
Resolution for the grant of authority to enable the Company to purchase up to
10% of its own ordinary shares of 10 pence each in the market. 

The directors consider that the current share price of Vertu Motors plc
undervalues the Company.  This presents an opportunity for the Company to
enhance its earnings per share through the purchase of its own shares. It is the
directors' intention only to exercise the authority to purchase the Company's
own shares where they believe that it would increase the earnings per share of
those shares that are not re-purchased.

In the interim results announcement released on 7 November 2007, the Company
stated it had surplus properties with an estimated book value of £12 million and
that proceeds from the disposal of these properties would be used to both reduce
debt levels and to fund the further expansion of the Company.  It is now
intended that a small proportion of these property disposal proceeds, together
with some of the operating cash inflow from the underlying businesses, may be
utilised to fund a share buy back programme.

This proposal does not change the Company's stated strategies of pursuing
further acquisitions, in the form of franchised motor dealerships and used car
only operations, together with the focused organic growth of its existing
businesses.

The general meeting will take place at 10:00am on Friday 9th May 2008 at the
offices of Muckle LLP, Time Central, 32 Gallowgate, Newcastle upon Tyne, NE1
4BF.


                                      Ends                                      

For further information, call:


Vertu Motors plc

Robert Forrester, CEO

Karen Anderson, FD

0191 206 4617

0191 298 6514

 

Brewin Dolphin Investment Banking

Andrew Kitchingman/Sean Wyndham-Quin

0845 270 8613

 

Financial Dynamics

Jonathon Brill/Billy Clegg/Edward Westropp/Alex Beagley

020 7831 3113

 

Notes to editors

Vertu Motors is the 10th largest motor retailer in the United Kingdom with 47
dealerships forming a national network across England, operating under the
Bristol Street Motors and Bristol Street Motor Nation brands. Manufacturing
partners include Citroen, Ford, Iveco, Honda, Peugeot, Renault, Vauxhall, Fiat
Commercials and Hyundai.

Vertu Motors was established in November 2006 with the aim of consolidating the
UK motor retail sector. The company listed on AIM in December 2006 and raised
£25m. The Executive Directors are experienced within the sector, having
previously held senior positions within Reg Vardy.

In March 2007, the Group acquired the 13th largest motor retailer in the United
Kingdom, Bristol Street Motors.  In the summer of 2007, Vertu acquired Blake
Holdings Limited, Grantham Motor Company Limited and a Ford dealership in
Morpeth, Northumberland.   In March 2008 the Group opened a new Bristol Street
Motor Nation outlet in Doncaster.

It is intended that the Company will continue to acquire motor retail operations
in the form of franchised dealerships and used car only operations. The
Company's acquisition strategy is supplemented by a focused organic growth
strategy to drive operational efficiencies through the national network.

www.vertumotors.com

 



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