Vertu Motors PLC Transaction in Own Shares (3580T)

TIDMVTU

RNS Number : 3580T

Vertu Motors PLC

22 July 2022

22 July 2022

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 21 July 2022 , it purchased 142,506 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 07 June 2022 as follows:

 
  Date of purchase                                   21 July 2022 
   Number of ordinary shares purchased                142,506 
   Highest price paid per ordinary share              58.00 pence 
   Lowest price paid per ordinary share               57.30 pence 
   Volume weighted average price paid per ordinary    57.6518 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 349,522,709 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:   21 July 2022 
 
 

Aggregate information:

 
 
                     Volume-weighted average 
 Aggregated Volume    price (pence)            Venue 
 
   142,506           57.6518                    London Stock Exchange 
 
 
Individual Transactions: 
      769   58.00 pence   12:44 UK 
      817   57.80 pence   14:22 UK 
   10,920   57.80 pence   14:22 UK 
   10,000   57.70 pence   14:24 UK 
    2,021   57.70 pence   14:24 UK 
   10,000   57.70 pence   14:24 UK 
    6,478   57.70 pence   14:24 UK 
      952   57.70 pence   14:24 UK 
      549   57.70 pence   14:24 UK 
   10,000   57.50 pence   15:23 UK 
    1,712   57.50 pence   15:23 UK 
        7   57.50 pence   15:23 UK 
    5,221   57.50 pence   15:23 UK 
    4,772   57.50 pence   15:24 UK 
   28,288   57.50 pence   15:24 UK 
    9,122   57.30 pence   15:48 UK 
    4,436   57.30 pence   15:48 UK 
   35,000   57.90 pence   16:25 UK 
    1,442   57.80 pence   16:25 UK 
 
 

For further information please contact:

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

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 160 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 156 franchised sales outlets and 4 non-franchised sales operations from 121 locations across the UK.

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

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

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

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July 22, 2022 02:00 ET (06:00 GMT)