Transaction in Own Shares

RNS Number : 7062B

Vertu Motors PLC

15 February 2022

 

15 February 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 14 February 2022 , it purchased 184,000 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 05 November 2021 as follows:

Date of purchase 14 February 2022 Number of ordinary shares purchased 184,000 Highest price paid per ordinary share 64.20 pence Lowest price paid per ordinary share 62.40 pence Volume weighted average price paid per ordinary share 63.5415 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 359,422,972 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.

Following this purchase the Buyback Programme of the Company is now complete.  Pursuant to the Group's capital allocation strategy, the Board will consider the allocation of funds to a further buyback in due course.

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:	14 February 2022

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
184,000	63.5415	London Stock Exchange

Individual transactions:-

10,502 62.40 pence  11:46 UK  110 62.40 pence  11:46 UK  5,000 62.40 pence  11:46 UK  3,854 62.40 pence  11:46 UK  5,232 62.40 pence  11:46 UK  5,370 62.40 pence  11:50 UK  4,918 62.40 pence  12:02 UK  9,538 62.40 pence  12:16 UK  10,140 62.40 pence  12:17 UK  4,316 62.40 pence  12:17 UK  42 64.00 pence  12:47 UK  4,805 64.00 pence  12:47 UK  1,799 64.00 pence  12:47 UK  1,799 64.00 pence  12:47 UK  7,810 64.00 pence  12:47 UK  8,765 64.00 pence  12:47 UK  32,809 64.20 pence  14:43 UK  17,191 64.20 pence  14:43 UK  3,895 64.00 pence  15:29 UK  3,895 64.00 pence  15:30 UK  3,895 64.00 pence  15:33 UK  4,059 64.00 pence  15:33 UK  1,122 64.00 pence  15:33 UK  5,181 64.00 pence  15:33 UK  5,302 64.00 pence  15:33 UK  2,937 64.00 pence  15:33 UK  2,561 64.00 pence  15:33 UK  2,027 64.00 pence  15:33 UK  483 64.00 pence  15:33 UK  14,643 64.00 pence  15:33 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 159 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 155 franchised sales outlets and 4 non-franchised sales operations from 120 locations across the UK.

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

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

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

 

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