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VTU Vertu Motors Plc

67.50
0.70 (1.05%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vertu Motors Plc LSE:VTU London Ordinary Share GB00B1GK4645 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.70 1.05% 67.50 67.20 68.50 68.60 66.90 68.20 583,759 16:35:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Motor Veh Dealer (used Only) 4.01B 25.53M 0.0749 9.03 230.37M

Vertu Motors PLC Transaction in Own Shares (0886H)

08/03/2018 8:30am

UK Regulatory


Vertu Motors (LSE:VTU)
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TIDMVTU

RNS Number : 0886H

Vertu Motors PLC

08 March 2018

8 March 2018

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 7 March 2018, it purchased 245,000 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 26 July 2017 and subsequently extended on 11 October 2017 and 25 January 2018, as follows:

 
Date of purchase:                                        7 March 2018 
Number of ordinary shares purchased:                     245,000 
Highest price paid per ordinary share:                   42.50 pence 
Lowest price paid per ordinary share:                    42.50 pence 
Volume weighted average price paid per ordinary share:   42.50 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 383,874,517, 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, Canaccord Genuity Limited, are set out below:

Schedule of Purchases:

 
 Shares purchased:    Vertu Motors plc (ISIN: GB00B1GK4645) 
 Date of purchases:   7 March 2018 
 
 

Aggregate information:

 
Aggregated volume  Volume-weighted  Venue 
                    average price 
245,000            42.50            London Stock Exchange 
 

Individual transactions:

 
Number of shares  Transaction price   Time of transaction 
 purchased         (per share) 
 245,000           42.50 pence        9:08 AM (UK) 
 

For further information please contact:

 
 Vertu Motors plc               Tel: 0191 491 2111 
  Robert Forrester, CEO          Tel: 0191 491 2112 
  Michael Sherwin, CFO 
 Canaccord Genuity Limited      Tel: 020 7523 8000 
  Chris Connors 
  Henry Fitzgerald - O'Connor 
  Richard Andrews 
                                Tel: 020 3829 5000 
   Zeus Capital Limited 
   Dominic King 
                                Tel: 020 3757 4983 
   Camarco 
   Billy Clegg 
   Tom Huddart 
 

Notes to Editors

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 121 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 118 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com

Vertu brand websites - 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

POSUWUBRWVAORRR

(END) Dow Jones Newswires

March 08, 2018 03:30 ET (08:30 GMT)

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