Vertu Motors PLC Transaction in Own Shares (5676I)

TIDMVTU

RNS Number : 5676I

Vertu Motors PLC

22 March 2018

22 March 2018

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 21 March 2018, it purchased 110,779 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:                                        21 March 2018 
Number of ordinary shares purchased:                     110,779 
Highest price paid per ordinary share:                   44.60 pence 
Lowest price paid per ordinary share:                    44.50 pence 
Volume weighted average price paid per ordinary share:   44.59 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 381,559,945, 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:   21 March 2018 
 
 

Aggregate information:

 
Aggregated volume  Volume-weighted  Venue 
                    average price 
110,779            44.59            London Stock Exchange 
 

Individual transactions:

 
Number of shares  Transaction price   Time of transaction 
 purchased         (per share) 
 2,900             44.60 pence        8:53 AM (UK) 
  2,900             44.60 pence        8:53 AM (UK) 
  9,659             44.60 pence        8:53 AM (UK) 
  2,844             44.60 pence        8:53 AM (UK) 
  2,033             44.60 pence        8:53 AM (UK) 
  1,168             44.60 pence        8:53 AM (UK) 
  1,188             44.60 pence        8:53 AM (UK) 
  2,107             44.60 pence        8:55 AM (UK) 
  3,600             44.60 pence        8:56 AM (UK) 
  7,670             44.60 pence        8:59 AM (UK) 
  1,701             44.60 pence        8:59 AM (UK) 
  2,307             44.60 pence        8:59 AM (UK) 
  595               44.60 pence        8:59 AM (UK) 
  5,405             44.60 pence        8:59 AM (UK) 
  2,536             44.60 pence        9:34 AM (UK) 
  2,165             44.60 pence        10:36 AM (UK) 
  622               44.60 pence        10:48 AM (UK) 
  457               44.60 pence        11:53 AM (UK) 
  226               44.60 pence        11:56 AM (UK) 
  2,022             44.60 pence        12:02 PM (UK) 
  610               44.60 pence        12:02 PM (UK) 
  696               44.60 pence        12:02 PM (UK) 
  337               44.60 pence        12:02 PM (UK) 
  2,290             44.60 pence        12:02 PM (UK) 
  949               44.60 pence        12:02 PM (UK) 
  587               44.60 pence        12:02 PM (UK) 
  6,839             44.60 pence        12:44 PM (UK) 
  1,347             44.60 pence        12:44 PM (UK) 
  10,394            44.60 pence        12:52 PM (UK) 
  1,402             44.60 pence        12:52 PM (UK) 
  2,529             44.60 pence        1:27 PM (UK) 
  4,664             44.60 pence        3:20 PM (UK) 
  3,000             44.60 pence        3:22 PM (UK) 
  2,222             44.60 pence        3:42 PM (UK) 
  5,400             44.60 pence        3:51 PM (UK) 
  2,059             44.60 pence        3:51 PM (UK) 
  570               44.60 pence        3:51 PM (UK) 
  1,690             44.50 pence        4:11 PM (UK) 
  7,200             44.50 pence        4:11 PM (UK) 
  1,889             44.50 pence        4:35 PM (UK) 
 

For further information please contact:

 
 Vertu Motors plc               Tel: [phone] 
  Robert Forrester, CEO          Tel: [phone] 
  Michael Sherwin, CFO 
 Canaccord Genuity Limited      Tel: [phone] 
  Chris Connors 
  Henry Fitzgerald - O'Connor 
  Richard Andrews 
                                Tel: [phone] 
   Zeus Capital Limited 
   Dominic King 
                                Tel: [phone] 
   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

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March 22, 2018 04:30 ET (08:30 GMT)