Transaction in Own Shares

RNS Number : 0432L

Vertu Motors PLC

08 September 2021

 

08 September 2021

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 07 September 2021 , it purchased 190,111 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 20 August 2021 as follows:

Date of purchase 07 September 2021 Number of ordinary shares purchased 190,111 Highest price paid per ordinary share 55.00 pence Lowest price paid per ordinary share 54.00 pence Volume weighted average price paid per ordinary share 54.9316 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 368,025,121 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:	07 September 2021

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
190,111	54.9316	London Stock Exchange

Individual transactions:

 

19,251	55.00 pence	08:01 UK
50,602	55.00 pence	08:01 UK
6,873	55.00 pence	08:01 UK
4,286	55.00 pence	08:02 UK
3,754	55.00 pence	08:02 UK
1,229	55.00 pence	08:02 UK
5,000	55.00 pence	08:02 UK
2,501	55.00 pence	08:02 UK
6,504	55.00 pence	08:02 UK
6,500	54.00 pence	09:20 UK
6,500	54.00 pence	09:47 UK
50,000	55.00 pence	12:23 UK
27,111	55.00 pence	16:02 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 155 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu 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 151 franchised sales outlets and 4 non-franchised sales operations from 116 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.vertucareers.com

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.macklinmotors.co.uk  

 

END

 

 

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