Transaction in Own Shares

RNS Number : 3546G

Vertu Motors PLC

01 March 2018

 

1 March 2018

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 28 February 2018, it purchased 187,000 ordinary shares of 10p each in the Company on the London Stock Exchange (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 26 July 2017 and subsequently extended on 11 October 2017 and 25 January 2018, as follows:

Date of purchase:	28 February 2018
Number of ordinary shares purchased:	187,000
Highest price paid per ordinary share:	43.90 pence
Lowest price paid per ordinary share:	43.90 pence
Volume weighted average price paid per ordinary share:	43.90 pence

Application will be made for the Repurchased Shares to be cancelled. Following the cancellation of the Repurchased Shares, the total number of ordinary shares with voting rights will be 384,934,517, which may be used by shareholders 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, Vertu Motors under the FCA's Disclosure Guidance and Transparency Rules. The Company holds no shares in treasury.

The Company will make further announcements in due course following the completion of any further purchases pursuant to the Buyback Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own ordinary shares by Vertu Motors, which were all executed through the Company's broker, Canaccord Genuity Limited, are set out below:

Schedule of Purchases: 

Shares purchased:	Vertu Motors plc (ISIN: GB00B1GK4645)
Date of purchases:	28 February 2018

Aggregate information:

Aggregated volume	Volume-weighted average price	Venue
187,000	43.90	London Stock Exchange

Individual transactions:

Number of shares purchased	Transaction price (per share)	Time of transaction
187,000	43.90 pence	8:20 AM (UK)

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Michael Sherwin, CFO	Tel: [phone] Tel: [phone]
Canaccord Genuity Limited Chris Connors Henry Fitzgerald - O'Connor Richard Andrews	Tel: [phone]
Zeus Capital Limited Dominic King	Tel: [phone]
Camarco Billy Clegg Tom Huddart	Tel: [phone]

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 121 sales outlets across the UK.  Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell 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 118 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

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

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com

 

END

 

 

POSUAABRWBAORRR