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Vertu Motors PLC (VTU)

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Tuesday 15 February, 2022

Vertu Motors PLC

Transaction in Own Shares

RNS Number : 7062B
Vertu Motors PLC
15 February 2022
 

15 February 2022

Vertu Motors plc

 

("Vertu Motors" or the "Company")

 

Transaction in Own Shares

 

 

Vertu Motors plc (AIM: VTU) announces that on 14 February 2022 , it purchased 184,000 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 05 November 2021 as follows:

 

Date of purchase

14 February 2022

Number of ordinary shares purchased

184,000

Highest price paid per ordinary share

64.20 pence

Lowest price paid per ordinary share

62.40 pence

Volume weighted average price paid per ordinary share

63.5415 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 359,422,972 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.

 

Following this purchase the Buyback Programme of the Company is now complete.  Pursuant to the Group's capital allocation strategy, the Board will consider the allocation of funds to a further buyback in due course.

 

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: 

14 February 2022

 

 

 

Aggregate information:

 

 

 

 

Aggregated Volume

Volume-weighted average price (pence)

Venue

184,000

63.5415

London Stock Exchange
 

 

 

Individual transactions:-

 

10,502

62.40 pence

 11:46 UK

 110

62.40 pence

 11:46 UK

 5,000

62.40 pence

 11:46 UK

 3,854

62.40 pence

 11:46 UK

 5,232

62.40 pence

 11:46 UK

 5,370

62.40 pence

 11:50 UK

 4,918

62.40 pence

 12:02 UK

 9,538

62.40 pence

 12:16 UK

 10,140

62.40 pence

 12:17 UK

 4,316

62.40 pence

 12:17 UK

 42

64.00 pence

 12:47 UK

 4,805

64.00 pence

 12:47 UK

 1,799

64.00 pence

 12:47 UK

 1,799

64.00 pence

 12:47 UK

 7,810

64.00 pence

 12:47 UK

 8,765

64.00 pence

 12:47 UK

 32,809

64.20 pence

 14:43 UK

 17,191

64.20 pence

 14:43 UK

 3,895

64.00 pence

 15:29 UK

 3,895

64.00 pence

 15:30 UK

 3,895

64.00 pence

 15:33 UK

 4,059

64.00 pence

 15:33 UK

 1,122

64.00 pence

 15:33 UK

 5,181

64.00 pence

 15:33 UK

 5,302

64.00 pence

 15:33 UK

 2,937

64.00 pence

 15:33 UK

 2,561

64.00 pence

 15:33 UK

 2,027

64.00 pence

 15:33 UK

 483

64.00 pence

 15:33 UK

 14,643

64.00 pence

 15:33 UK

 

For further information please contact:

 

Vertu Motors plc
Robert Forrester, CEO
Karen Anderson, CFO

Tel: 0191 491 2111
Tel: 0191 491 2112

 

Zeus Capital Limited
Jamie Peel

Andrew Jones

Dominic King

Tel: 020 3829 5000

 

Camarco

Billy Clegg

Tom Huddart

Tel: 020 3757 4983

 

 

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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