Vertu Motors PLC Statement re: press speculation (2495C)

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RNS Number : 2495C

Vertu Motors PLC

15 October 2020

15 October 2020

Vertu Motors plc ("Vertu Motors" or "Company")

Statement re: press speculation

Vertu Motors plc, the UK automotive retailer with a network of 134 sales and aftersales outlets across the UK, notes the recent press speculation and confirms, as per the stated strategy of the Company, that it is in discussions with a number of parties concerning the acquisition of a number of dealerships, including a small number of BMW dealerships. Any acquisitions would be funded from existing resources. Discussions are ongoing and there can be no certainty as to the outcome of the discussions.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Ends

For further information please contact:

 
 Vertu Motors plc         Tel: [phone] 
  Robert Forrester, CEO 
  Karen Anderson, CFO 
 Zeus Capital Limited     Tel: [phone] 
  Jamie Peel 
  Andrew Jones 
  Dominic King 
 Camarco                  Tel: [phone] 
  Billy Clegg 
  Tom Huddart 
 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 134 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell 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 131 franchised sales outlets and 3 non-franchised sales operations from 110 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.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com

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October 15, 2020 11:29 ET (15:29 GMT)