TIDMVTU

RNS Number : 1994Q

Vertu Motors PLC

26 October 2021

26 October 2021

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 25 October 2021 , it purchased 433,462 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                                   25 October 2021 
   Number of ordinary shares purchased                433,462 
   Highest price paid per ordinary share              62.00 pence 
   Lowest price paid per ordinary share               61.40 pence 
   Volume weighted average price paid per ordinary    61.9740 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 365,833,848 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:   25 October 2021

Aggregate information:

 
 
                     Volume-weighted 
                      average price 
 Aggregated Volume    (pence)          Venue 
 433,462             61.974            London Stock Exchange 
 
 
 Individual Transactions: 
 
 
 
        200,000       62.00 pence    10:30 UK 
          2,730       61.80 pence    10:31 UK 
          5,000       61.80 pence    10:32 UK 
          9,164       61.80 pence    10:32 UK 
          6,984       61.80 pence    10:32 UK 
          1,384       61.80 pence    10:32 UK 
          1,381       61.80 pence    10:32 UK 
            536       61.80 pence    10:32 UK 
            232       61.80 pence    10:32 UK 
            808       61.80 pence    10:32 UK 
            938       61.80 pence    10:32 UK 
          4,305       61.80 pence    10:32 UK 
          7,643       61.40 pence    10:37 UK 
        192,357       62.00 pence    15:52 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 154 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 150 franchised sales outlets and 4 non-franchised sales operations from 118 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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END

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(END) Dow Jones Newswires

October 26, 2021 02:00 ET (06:00 GMT)

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