Transaction in Own Shares

RNS Number : 5359L

Vertu Motors PLC

13 September 2021

 

13 September 2021

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 10 September 2021 , it purchased 294,145 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 10 September 2021 Number of ordinary shares purchased 294,145 Highest price paid per ordinary share 54.60 pence Lowest price paid per ordinary share 53.80 pence Volume weighted average price paid per ordinary share 54.2461 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 367,191,910 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:	10 September 2021

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
294,145	54.2461	London Stock Exchange

Individual Transactions:
7,400	53.80 pence	08:16 UK
21,745	54.00 pence	08:54 UK
150,000	54.30 pence	12:16 UK
6,069	54.00 pence	14:21 UK
18,931	54.00 pence	14:45 UK
2,500	53.80 pence	14:48 UK
1,521	53.80 pence	14:48 UK
242	53.80 pence	14:48 UK
15,000	54.00 pence	14:50 UK
14,209	54.00 pence	15:08 UK
174	54.00 pence	15:08 UK
2,715	54.00 pence	15:08 UK
1,551	54.00 pence	15:08 UK
2,565	54.00 pence	15:08 UK
49,523	54.60 pence	15:47 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

 

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