Transaction in Own Shares

RNS Number : 4515Z

Vertu Motors PLC

25 January 2022

 

25 January 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 24 January 2022 , it purchased 284,946 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 24 January 2022 Number of ordinary shares purchased 284,946 Highest price paid per ordinary share 64.00 pence Lowest price paid per ordinary share 61.00 pence Volume weighted average price paid per ordinary share 63.07 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 361,431,965 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:	24 January 2022

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
284,946	63.07	London Stock Exchange

Individual Transactions:
450 64.00 pence  08:16 UK  14,496 64.00 pence  08:32 UK  15,000 64.00 pence  08:58 UK  15,000 64.00 pence  08:58 UK  15,566 64.00 pence  08:58 UK  13,070 64.00 pence  08:58 UK  1,930 64.00 pence  08:58 UK  2,000 64.00 pence  08:58 UK  5,747 64.00 pence  08:58 UK  1,687 64.00 pence  08:58 UK  17,534 63.60 pence  09:25 UK  2,350 63.60 pence  09:25 UK  15,184 63.60 pence  09:45 UK  4,799 63.60 pence  09:45 UK  10,133 63.60 pence  09:45 UK  22,114 63.20 pence  09:47 UK  22,114 63.20 pence  09:47 UK  5,772 63.20 pence  09:47 UK  1,956 62.60 pence  10:18 UK  15,275 62.60 pence  10:18 UK  14,281 62.60 pence  10:18 UK  2,950 62.60 pence  10:18 UK  536 62.60 pence  10:18 UK  4,055 62.60 pence  10:18 UK  2,175 62.60 pence  10:25 UK  8,772 62.60 pence  10:25 UK  23,000 61.60 pence  10:28 UK  2,000 61.60 pence  10:28 UK  23,000 61.00 pence  10:55 UK  2,000 61.00 pence  10:56 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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