Transaction in Own Shares

RNS Number : 9414D

Vertu Motors PLC

08 March 2022

 

08 March 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 07 March 2022 , it purchased 269,177 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 07 March 2022 Number of ordinary shares purchased 269,177 Highest price paid per ordinary share 59.60 pence Lowest price paid per ordinary share 54.00 pence Volume weighted average price paid per ordinary share 56.6411 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 358,894,421 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:	07 March 2022

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
269,177	56.6411	London Stock Exchange

Individual transactions:-
19,177	57.00 pence	08:00 UK
25,500	56.00 pence	08:11 UK
1,268	55.00 pence	08:25 UK
17,455	55.00 pence	08:25 UK
6,398	55.00 pence	08:25 UK
6,398	55.00 pence	08:25 UK
12,325	55.00 pence	08:25 UK
4,407	55.00 pence	08:25 UK
1,249	55.00 pence	08:25 UK
32,678	54.00 pence	08:28 UK
17,322	54.00 pence	08:28 UK
10,000	58.80 pence	13:54 UK
25,000	58.00 pence	15:26 UK
12,140	58.00 pence	15:51 UK
5,197	58.00 pence	15:51 UK
911	58.00 pence	15:51 UK
17,337	58.00 pence	15:51 UK
5,000	58.80 pence	16:04 UK
1,363	58.80 pence	16:04 UK
2,324	58.80 pence	16:04 UK
6,995	58.80 pence	16:04 UK
24,318	58.80 pence	16:04 UK
6,649	58.60 pence	16:22 UK
950	58.60 pence	16:27 UK
487	58.60 pence	16:29 UK
2,094	58.60 pence	16:29 UK
2,317	59.60 pence	16:35 UK
1,918	59.60 pence	16:35 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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