Transaction in Own Shares

RNS Number : 7074H

Vertu Motors PLC

02 August 2019

 

02 August 2019

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 01 August 2019, it purchased 60,516 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 24 July 2019 as follows:

Date of purchase 01 August 2019 Number of ordinary shares purchased 60,516 Highest price paid per ordinary share 36.75 pence Lowest price paid per ordinary share 36.20 pence Volume weighted average price paid per ordinary share 36.3170 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 372,498,341 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, Zeus Capital Limited, are set out below:

Schedule of Purchases: 

Shares purchased:	Vertu Motors plc (ISIN: GB00B1GK4645)
Date of purchases:	01 August 2019

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
60,516	36.3170	London Stock Exchange

Individual transactions:

396	36.75 pence	09:50 UK
3,300	36.75 pence	09:50 UK
5	36.75 pence	10:33 UK
4,000	36.75 pence	10:35 UK
2,299	36.75 pence	11:03 UK
10,000	36.20 pence	12:51 UK
292	36.20 pence	13:46 UK
9,708	36.20 pence	14:16 UK
20,000	36.20 pence	14:16 UK
315	36.35 pence	15:47 UK
2,267	36.35 pence	15:47 UK
1,125	36.35 pence	16:06 UK
2,081	36.35 pence	16:25 UK
768	36.35 pence	16:29 UK
278	36.35 pence	16:29 UK
3,344	36.35 pence	16:35 UK
145	36.35 pence	16:35 UK
180	36.35 pence	16:35 UK
13	36.35 pence	16:35 UK

For further information please contact:

Vertu Motors plc Robert Forrester, CEO Karen Anderson, CFO	Tel: [phone] Tel: [phone]
Zeus Capital Limited Jamie Peel Andrew Jones Dominic King	Tel: [phone]
Camarco Billy Clegg Tom Huddart	Tel: [phone]

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 123 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". 

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

 

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