Vertu Motors PLC Transaction in Own Shares (5823L)

TIDMVTU

RNS Number : 5823L

Vertu Motors PLC

09 September 2019

09 September 2019

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 06 September 2019, it purchased 176,525 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 24 July 2019 as follows:

 
  Date of purchase                                   06 September 2019 
   Number of ordinary shares purchased                176,525 
   Highest price paid per ordinary share              35.00 pence 
   Lowest price paid per ordinary share               34.50 pence 
   Volume weighted average price paid per ordinary    34.8779 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 369,343,337 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:   06 September 2019 
 
 

Aggregate information:

 
 
                     Volume-weighted 
                      average price 
 Aggregated Volume    (pence)          Venue 
 176,525             34.8779           London Stock Exchange 
 

Individual transactions:

 
 26,059  35.00 pence   09:20 UK 
  3,555  35.00 pence   09:20 UK 
    386  35.00 pence   09:20 UK 
 50,000  35.00 pence   09:21 UK 
 16,525  34.75 pence   11:58 UK 
  2,784  34.50 pence   12:02 UK 
      2  34.50 pence   12:02 UK 
     18  34.50 pence   12:02 UK 
  5,463  34.75 pence   12:26 UK 
 24,537  34.75 pence   12:26 UK 
 10,368  34.70 pence   13:48 UK 
 14,632  34.70 pence   13:51 UK 
  3,373  34.70 pence   15:39 UK 
 18,823  35.00 pence   16:00 UK 
 

For further information please contact:

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

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 123 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 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.

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September 09, 2019 02:00 ET (06:00 GMT)