Vertu Motors PLC Transaction in Own Shares (3287L)

TIDMVTU

RNS Number : 3287L

Vertu Motors PLC

10 September 2021

10 September 2021

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 09 September 2021 , it purchased 285,429 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 20 August 2021 as follows:

 
  Date of purchase                                   09 September 2021 
   Number of ordinary shares purchased                285,429 
   Highest price paid per ordinary share              54.40 pence 
   Lowest price paid per ordinary share               53.80 pence 
   Volume weighted average price paid per ordinary    54.0589 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 367,486,055 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:   09 September 2021 
 
 

Aggregate information:

 
 
                     Volume-weighted 
                      average price 
 Aggregated Volume    (pence)          Venue 
 285,429             54.0589           London Stock Exchange 
 

Individual transactions:

 
   3,754  54.00 pence   09:04 UK 
   9,378  54.00 pence   09:04 UK 
   3,754  54.00 pence   09:04 UK 
   8,543  54.00 pence   09:04 UK 
   5,000  53.80 pence   09:40 UK 
   2,002  54.00 pence   10:05 UK 
   1,140  54.00 pence   10:17 UK 
   2,998  54.00 pence   10:17 UK 
   1,714  54.00 pence   11:46 UK 
   3,286  54.00 pence   12:00 UK 
   2,262  54.00 pence   12:00 UK 
   2,738  54.00 pence   12:36 UK 
   3,860  54.00 pence   12:39 UK 
   5,000  54.00 pence   12:39 UK 
  12,575  53.80 pence   12:39 UK 
   5,665  53.80 pence   13:38 UK 
   1,137  53.80 pence   14:00 UK 
 150,000  54.00 pence   14:01 UK 
   1,089  53.80 pence   15:15 UK 
      31  53.80 pence   15:16 UK 
   5,832  54.20 pence   15:38 UK 
  50,000  54.40 pence   15:38 UK 
   3,671  54.20 pence   15:51 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 155 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu 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 151 franchised sales outlets and 4 non-franchised sales operations from 116 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.vertucareers.com 

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.macklinmotors.co.uk

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September 10, 2021 02:00 ET (06:00 GMT)