Vertu Motors PLC Transaction in Own Shares (1794Z)

TIDMVTU

RNS Number : 1794Z

Vertu Motors PLC

12 May 2023

 
12 May 2023 
                                     Vertu Motors plc 
 
                             ("Vertu Motors" or the "Company") 
 
                                 Transaction in Own Shares 
 
 
Vertu Motors plc (AIM: VTU) announces that on 11 May 2023 
 it purchased 237,082 ordinary shares of 10p each in the Company 
 (the "Repurchased Shares"), pursuant to the share buyback 
 programme (the "Buyback Programme") that was announced on 
 10 May 2023, as follows (together the "Transaction"): 
 
Date of purchase                                                11 May 2023 
Number of ordinary shares purchased                             237,082 
Highest price paid per ordinary share                           59.2 pence 
Lowest price paid per ordinary share                            59 pence 
Volume weighted average price paid per ordinary share           59.0675 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 348,708,440 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 ("Zeus"), are set out 
 below: 
 
Schedule of Purchases: 
Shares purchased:                 Vertu Motors plc (ISIN: GB00B1GK4645) 
Date of purchases:                11 May 2023 
 
Aggregate information: 
 
Aggregated Volume                 Volume-weighted               Venue 
                                   average price (pence) 
237,082                           59.0675                       London Stock Exchange 
 
 
Individual transactions: 
 
80,000                            59.20 pence                   10:40 UK 
 57,082                           59.00 pence                   10:59 UK 
 5,000                            59.00 pence                   16:04 UK 
 95,000                           59.00 pence                   16:36 UK 
 
Vertu Motors plc                                                  Tel: +44 (0) 191 491 2121 
Robert Forrester, CEO 
Karen Anderson, CFO 
 
Zeus (Nominated Adviser and Broker)                               Tel: +44 (0) 203 829 5000 
Jamie Peel 
Andrew Jones 
Dominic King 
 
Camarco                                                           Tel: +44 (0) 203 757 4983 
Billy Clegg 
Tom Huddart 
 
 
Notes to Editors 
Vertu Motors is the fourth largest automotive retailer in 
 the UK with a network of 189 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 185 franchised sales 
 outlets and 4 non-franchised sales operations from 141 locations 
 across the UK. 
 
Vertu's Mission Statement is to "deliver an outstanding customer 
 motoring experience through honesty and trust". 
 
Vertu Motors Group websites - https://investors.vertumotors.com 
 / www.vertucareers.com 
 Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk 
 / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk 
 / www.vertumotorcyles.com

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May 12, 2023 02:00 ET (06:00 GMT)

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