Vertu Motors PLC Transaction in Own Shares (6891F)

TIDMVTU

RNS Number : 6891F

Vertu Motors PLC

30 October 2018

30 October 2018

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 29 October 2018, it purchased 202,000 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 10 October 2018 as follows:

 
  Date of purchase                                   29 October 2018 
   Number of ordinary shares purchased                202,000 
   Highest price paid per ordinary share              36.60 pence 
   Lowest price paid per ordinary share               36.15 pence 
   Volume weighted average price paid per ordinary    36.4371 pence 
    share 
 
 

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 378,043,049 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, are set out below:

Schedule of Purchases:

 
 Shares purchased:    Vertu Motors plc (ISIN: GB00B1GK4645) 
 Date of purchases:   29 October 2018 
 
 

Aggregate information:

 
Aggregated volume  Volume-weighted         Venue 
                    average price (pence) 
202,000            36.4371                 London Stock Exchange 
 

Individual transactions:

 
  1         36.20 pence   12:02 UK 
   100,000   36.60 pence   12:23 UK 
   52,000    36.40 pence   15:12 UK 
   49,999    36.15 pence   16:27 UK 
 

For further information please contact:

 
 Vertu Motors plc         Tel: [phone] 
  Robert Forrester, CEO    Tel: [phone] 
  Michael Sherwin, CFO 
                          Tel: [phone] 
   Zeus Capital Limited 
   Nicholas How 
   Andrew Jones 
   Dominic King 
                          Tel: [phone] 
   Camarco 
   Billy Clegg 
   Tom Huddart 
 

Notes to Editors

Vertu Motors is the sixth largest automotive retailer in the UK with a network of 125 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 122 franchised sales outlets and 3 non-franchised sales operations from 106 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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October 30, 2018 04:38 ET (08:38 GMT)