Transaction in Own Shares

RNS Number : 8306M

Vertu Motors PLC

26 May 2022

 

26 May 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 25 May 2022 , it purchased 90,010 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 25 May 2022 Number of ordinary shares purchased 90,010 Highest price paid per ordinary share 56.00 pence Lowest price paid per ordinary share 54.90 pence Volume weighted average price paid per ordinary share 55.4570 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 355,397,954 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:	25 May 2022

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
90,010	55.4570	London Stock Exchange

Individual Transactions:
5,000 54.90 pence  08:22 UK  2,082 54.90 pence  09:13 UK  3,410 54.90 pence  09:13 UK  821 54.90 pence  10:05 UK  187 54.90 pence  10:05 UK  5,353 54.90 pence  10:05 UK  536 54.90 pence  10:05 UK  1,147 54.90 pence  10:05 UK  1,147 54.90 pence  10:05 UK  832 55.20 pence  10:08 UK  821 55.20 pence  10:08 UK  7,800 55.20 pence  10:08 UK  547 55.20 pence  10:08 UK  5,317 55.30 pence  12:58 UK  2,500 55.30 pence  13:03 UK  7,500 55.30 pence  13:03 UK  279 55.50 pence  13:57 UK  2,221 55.50 pence  13:57 UK  7,500 55.50 pence  13:57 UK  437 55.50 pence  13:57 UK  2,604 55.50 pence  13:57 UK  1,736 55.50 pence  13:57 UK  233 55.50 pence  14:34 UK  5,000 55.80 pence  15:52 UK  1,519 56.00 pence  16:15 UK  23,481 56.00 pence  16:15 UK

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO	Tel: [phone]
Karen Anderson, CFO	Tel: [phone]
Zeus Capital Limited	Tel: [phone]
Jamie Peel
Andrew Jones
Dominic King
Camarco	Tel: [phone]
Billy Clegg
Tom Huddart

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 160 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 156 franchised sales outlets and 4 non-franchised sales operations from 121 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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