Recent Press Comment - Replacement

RNS Number : 1841L

Vertu Motors PLC

31 August 2012

 



31 August 2012

Vertu Motors plc ("the Group")

Recent press comment

Further to a recent press statement from the Co-operative Motor Group, the Group confirms that it is in discussion with the Co-operative Motor Group in connection with the potential acquisition of three dealership locations.  This potential transaction is subject to agreement of contract terms, due diligence and various third party approvals, therefore there can be no certainty that the potential transaction will proceed.  The Company will ensure that investors are duly informed if and when this potential transaction is completed.

The Group intends to release its scheduled Trading Update for the six months ending 31 August 2012 on Monday 3 September 2012.

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Michael Sherwin, FD	Tel: [phone]
Panmure Gordon (UK) Limited
Andrew Burnett	Tel: [phone]
Callum Stewart
Espirito Santo Investment Bank
Peter Tracey Jamie Richards	Tel: [phone]
FTI Consulting
Josephine Corbett	Tel: [phone]

Notes to Editors

Vertu Motors is a fast growing automotive retailer with a network of 81 sales and aftersales outlets across the UK.  Its dealerships operate predominantly under the Bristol Street Motors, Vertu Honda and Macklin Motors brand names. Manufacturer partners are Alfa Romeo, Citroen, Fiat, Ford, Honda, Hyundai, Iveco, Mazda, Mitsubishi, Nissan, Peugeot, Renault, SEAT, Suzuki and Vauxhall.

Vertu Motors was established in November 2006 and listed on AIM on December 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 78 franchised sales outlets, 3 non-franchised sales operations from 69 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.motornation.co.uk / www.macklinmotors.co.uk

 

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