VTU Vertu Motors Plc

TIDMVTU

RNS Number : 0432L

Vertu Motors PLC

08 September 2021

08 September 2021

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 07 September 2021 , it purchased 190,111 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 20 August 2021 as follows:

 
  Date of purchase                                   07 September 2021 
   Number of ordinary shares purchased                190,111 
   Highest price paid per ordinary share              55.00 pence 
   Lowest price paid per ordinary share               54.00 pence 
   Volume weighted average price paid per ordinary    54.9316 pence 
    share 
 
 

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 368,025,121 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 September 2021 
 
 

Aggregate information:

 
 
                     Volume-weighted 
                      average price 
 Aggregated Volume    (pence)          Venue 
 190,111             54.9316           London Stock Exchange 
 

Individual transactions:

 
  19,251   55.00 pence    08:01 UK 
  50,602   55.00 pence    08:01 UK 
   6,873   55.00 pence    08:01 UK 
   4,286   55.00 pence    08:02 UK 
   3,754   55.00 pence    08:02 UK 
   1,229   55.00 pence    08:02 UK 
   5,000   55.00 pence    08:02 UK 
   2,501   55.00 pence    08:02 UK 
   6,504   55.00 pence    08:02 UK 
   6,500   54.00 pence    09:20 UK 
   6,500   54.00 pence    09:47 UK 
  50,000   55.00 pence    12:23 UK 
  27,111   55.00 pence    16:02 UK 
 
 

For further information please contact:

 
 Vertu Motors plc         Tel: 0191 491 2111 
  Robert Forrester, CEO    Tel: 0191 491 2112 
  Karen Anderson, CFO 
                          Tel: 020 3829 5000 
   Zeus Capital Limited 
   Jamie Peel 
   Andrew Jones 
   Dominic King 
                          Tel: 020 3757 4983 
   Camarco 
   Billy Clegg 
   Tom Huddart 
 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 155 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 151 franchised sales outlets and 4 non-franchised sales operations from 116 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.vertucareers.com 

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.macklinmotors.co.uk

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