Transaction in Own Shares

RNS Number : 8891B

Vertu Motors PLC

12 June 2019

 

12 June 2019

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 11 June 2019, it purchased 97,127 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 10 October 2018 as follows:

Date of purchase 11 June 2019 Number of ordinary shares purchased 97,127 Highest price paid per ordinary share 40.00 pence Lowest price paid per ordinary share 39.75 pence Volume weighted average price paid per ordinary share 39.8834 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 374,494,412 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:	11 June 2019

Aggregate information:

Aggregated volume	Volume-weighted average price (pence)	Venue
97,127	39.8834	London Stock Exchange

Individual transactions:

197	39.90 pence	09:45 UK
1,234	39.90 pence	09:45 UK
2,468	39.90 pence	09:45 UK
1,011	39.90 pence	09:45 UK
73,292	39.875 pence	10:18 UK
5,000	39.75 pence	10:54 UK
1,247	39.75 pence	12:12 UK
462	39.75 pence	12:23 UK
10,838	40.00 pence	16:17 UK
604	40.00 pence	16:29 UK
774	40.00 pence	16:29 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 sixth largest automotive retailer in the UK with a network of 123 sales outlets across the UK.  Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

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

Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com

 

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