Transaction in Own Shares

RNS Number : 7599D

Vertu Motors PLC

07 March 2022

 

07 March 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 04 March 2022 , it purchased 259,374 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 02 March 2022 as follows:

Date of purchase 04 March 2022 Number of ordinary shares purchased 259,374 Highest price paid per ordinary share 60.40 pence Lowest price paid per ordinary share 58.00 pence Volume weighted average price paid per ordinary share 59.3590 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 359,163,598 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:	04 March 2022

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
259,374	59.3590	London Stock Exchange

Individual transactions:-
		18,666 60.40 pence  09:04 UK  4,781 60.40 pence  09:04 UK  1,283 60.40 pence  09:04 UK  12,602 60.40 pence  09:04 UK  18,666 60.40 pence  09:04 UK  217 60.40 pence  09:04 UK  3,159 60.40 pence  09:04 UK  3,776 59.80 pence  09:05 UK  3,059 59.80 pence  09:07 UK  597 59.80 pence  09:07 UK  10,256 59.80 pence  09:07 UK  597 59.80 pence  09:07 UK  17,688 59.80 pence  09:07 UK  13,900 59.80 pence  09:13 UK  127 59.80 pence  09:13 UK  16,309 59.40 pence  09:24 UK  478 59.40 pence  09:24 UK  3,701 59.40 pence  09:24 UK  7,870 59.40 pence  09:24 UK  4,738 59.40 pence  09:24 UK  13,819 59.40 pence  09:24 UK  3,085 59.40 pence  09:24 UK  1,483 59.00 pence  09:56 UK  14,849 59.00 pence  09:56 UK  8,224 59.00 pence  09:56 UK  8,108 59.00 pence  09:56 UK  4,209 59.00 pence  10:03 UK  12,123 59.00 pence  10:04 UK  1,004 59.00 pence  10:04 UK  22,243 58.00 pence  10:08 UK  1,100 58.00 pence  10:08 UK  1,212 58.00 pence  12:05 UK  551 58.00 pence  12:05 UK  667 58.00 pence  12:05 UK  1,601 58.00 pence  12:05 UK  988 58.00 pence  12:13 UK  16,124 58.00 pence  12:13 UK  3,147 58.00 pence  12:13 UK  2,367 58.00 pence  12:13 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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