Vertu Motors PLC Transaction in Own Shares (0273R)

TIDMVTU

RNS Number : 0273R

Vertu Motors PLC

24 October 2023

 
24 October 2023 
                                      Vertu Motors plc 
 
                             ("Vertu Motors" or the "Company") 
 
                                 Transaction in Own Shares 
 
 
Vertu Motors plc (AIM: VTU) announces that on 23 October 2023 
 it purchased 410,231 ordinary shares of 10p each in the Company 
 (the "Repurchased Shares"), pursuant to the share buyback programme 
 (the "Buyback Programme") that was announced on 9 October 2023, 
 as follows (together the "Transaction"): 
 
Date of purchase                                                 23 October 2023 
Number of ordinary shares purchased                              410,231 
Highest price paid per ordinary share                            74.5 pence 
Lowest price paid per ordinary share                             74 pence 
Volume weighted average price paid per ordinary share            74.3961 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 340,824,750 
 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:                 23 October 2023 
 
Aggregate information: 
 
Aggregated Volume                  Volume-weighted               Venue 
                                    average price (pence) 
410,231                            74.3961                       London Stock Exchange 
 
 
Individual transactions: 
 
300,000                            74.50 pence                   08:41 UK 
25,000                             74.50 pence                   08:41 UK 
1                                  74.00 pence                   14:22 UK 
294                                74.00 pence                   14:31 UK 
9                                  74.00 pence                   14:31 UK 
23,945                             74.00 pence                   14:31 UK 
15,879                             74.00 pence                   15:40 UK 
20,103                             74.00 pence                   15:40 UK 
15,879                             74.00 pence                   15:43 UK 
2,109                              74.00 pence                   15:43 UK 
7,012                              74.00 pence                   16:00 UK 
 
 
Vertu Motors plc                                                   Tel: [phone] 
Robert Forrester, CEO 
Karen Anderson, CFO 
 
Zeus (Nominated Adviser and Broker)                                Tel: [phone] 
Jamie Peel 
Andrew Jones 
Dominic King 
 
Camarco                                                            Tel: [phone] 
Billy Clegg 
Tom Huddart 
 
 
Notes to Editors 
Vertu Motors is the fourth largest automotive retailer in the 
 UK with a network of 190 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 186 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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October 24, 2023 02:05 ET (06:05 GMT)