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Vertu Motors PLC (VTU)

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Tuesday 31 May, 2022

Vertu Motors PLC

Transaction in Own Shares

RNS Number : 3064N
Vertu Motors PLC
31 May 2022
 

31 May 2022

Vertu Motors plc

 

("Vertu Motors" or the "Company")

 

Transaction in Own Shares

 

 

Vertu Motors plc (AIM: VTU) announces that on 30 May 2022 , it purchased 243,792 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

30 May 2022

Number of ordinary shares purchased

243,792

Highest price paid per ordinary share

58.50 pence

Lowest price paid per ordinary share

58.20 pence

Volume weighted average price paid per ordinary share

58.4588 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 354,958,730 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: 

30 May 2022



 

Aggregate information:

 




Aggregated Volume

Volume-weighted average price (pence)

Venue


 

243,792

58.4588


London Stock Exchange

 

 

Individual Transactions:

2,658

58.40 pence

 12:48 UK

 2,920

58.40 pence

 12:55 UK

 4,422

58.40 pence

 13:09 UK

 7,500

58.20 pence

 13:10 UK

 3,040

58.20 pence

 13:10 UK

 452

58.20 pence

 13:10 UK

 6,685

58.20 pence

 13:10 UK

 5,461

58.20 pence

 13:10 UK

 3,647

58.20 pence

 13:55 UK

 3,353

58.20 pence

 14:24 UK

 200,000

58.50 pence

 14:37 UK

 3,654

58.50 pence

 15:15 UK









For further information please contact:

 

Vertu Motors plc

 

Robert Forrester, CEO

Tel: 0191 491 2111

Karen Anderson, CFO

Tel: 0191 491 2112

 


Zeus Capital Limited

Tel: 020 3829 5000

Jamie Peel


Andrew Jones


Dominic King


 


Camarco

Tel: 020 3757 4983

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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