Vertu Motors PLC Transaction in Own Shares (0956Q)

TIDMVTU

RNS Number : 0956Q

Vertu Motors PLC

24 June 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 23 June 2022 , it purchased 50,000 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 07 June 2022 as follows:

 
  Date of purchase                                   23 June 2022 
   Number of ordinary shares purchased                50,000 
   Highest price paid per ordinary share              55.00 pence 
   Lowest price paid per ordinary share               55.00 pence 
   Volume weighted average price paid per ordinary    55.0000 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 351,400,844 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:   23 June 2022

Aggregate information:

 
 
              Volume-weighted 
 Aggregated    average price 
  Volume       (pence)          Venue 
 
   50,000     55.0000            London Stock Exchange 
 
 
Individual Transactions: 
      373   55.00 pence   13:21 UK 
   11,314   55.00 pence   13:21 UK 
   11,687   55.00 pence   14:12 UK 
      798   55.00 pence   14:12 UK 
    5,883   55.00 pence   14:13 UK 
    5,006   55.00 pence   14:13 UK 
    3,421   55.00 pence   14:13 UK 
    4,678   55.00 pence   14:13 UK 
      636   55.00 pence   14:54 UK 
      636   55.00 pence   14:54 UK 
    2,952   55.00 pence   14:54 UK 
    2,616   55.00 pence   14:54 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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END

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June 24, 2022 02:00 ET (06:00 GMT)

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