Transaction in Own Shares

Vertu Motors PLC
03 September 2024
 

3 September 2024




Vertu Motors plc

 




("Vertu Motors" or the "Company")





Transaction in Own Shares

 








Vertu Motors plc (AIM: VTU) announces that on 2 September 2024 it purchased 98,185 ordinary shares of 10p each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 15 May 2024, as follows (together the "Transaction"):                                 





Date of purchase

2 September 2024

Number of ordinary shares purchased

98,185

Highest price paid per ordinary share

70.0 pence

Lowest price paid per ordinary share

69.5 pence

Volume weighted average price paid per ordinary share

69.6722 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 334,421,948 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, Stifel Nicolaus Europe Limited ("Stifel"), are set out below:





Schedule of Purchases: 

 



Shares purchased:        

Vertu Motors plc (ISIN: GB00B1GK4645)

Date of purchases:        

2 September 2024







Aggregate information:

 







Aggregated Volume

Volume-weighted
average price (pence)

Venue

 

98,185

69.6722 pence

London Stock Exchange









Individual transactions:

 







15,000

70.0 pence

12:53 UK


20,000

69.9 pence

12:53 UK


23,488

69.5 pence

14:08 UK


32,661

69.5 pence

14:15 UK


7,036

69.7 pence

15:51 UK






Vertu Motors plc

 

Tel: +44 (0) 191 491 2121

Robert Forrester, CEO


Karen Anderson, CFO

Phil Clark, Investor Relations






Stifel (Nominated Adviser and Broker)

Tel: +44 (0) 207 710 7688

Matthew Blawat


Nick Harland






Camarco

 

Tel: +44 (0) 203 757 4983

Billy Clegg




Tom Huddart












Notes to Editors

 



Vertu Motors is the fourth largest automotive retailer in the UK with a network of 193 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 189 franchised sales outlets and 4 non-franchised sales operations from 145 locations across the UK.





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





Vertu Motors Group websites - https://investors.vertumotors.com / www.vertucareers.com
Vertu brand websites -
www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcycles.com

 

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