Vertu Motors PLC Transaction in Own Shares

RNS Number : 1703B

Vertu Motors PLC

21 August 2024

 

21 August 2024
Vertu Motors plc
("Vertu Motors" or the "Company")
Transaction in Own Shares
Vertu Motors plc (AIM: VTU) announces that on 20 August 2024 it purchased 144,348 ordinary shares of 10p each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 15 May 2024, as follows (together the "Transaction"):
Date of purchase		20 August 2024
Number of ordinary shares purchased		144,348
Highest price paid per ordinary share		72.0 pence
Lowest price paid per ordinary share		71.5 pence
Volume weighted average price paid per ordinary share		71.7378 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 334,556,759 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, Stifel Nicolaus Europe Limited ("Stifel"), are set out below:
Schedule of Purchases:
Shares purchased:	Vertu Motors plc (ISIN: GB00B1GK4645)
Date of purchases:	20 August 2024
Aggregate information:
Aggregated Volume	Volume-weighted average price (pence)	Venue
144,348	71.7378	London Stock Exchange
Individual transactions:
35,000	71.5 pence	10:18 UK
24,100	71.5 pence	10:29 UK
36,106	71.8 pence	15:36 UK
5,409	71.8 pence	15:50 UK
43,733	72.0 pence	16:35 UK
Vertu Motors plc		Tel: [phone]
Robert Forrester, CEO
Karen Anderson, CFO Phil Clark, Investor Relations
Stifel (Nominated Adviser and Broker)		Tel: [phone]
Matthew Blawat
Nick Harland
Camarco		Tel: [phone]
Billy Clegg
Tom Huddart
Notes to Editors
Vertu Motors is the fourth largest automotive retailer in the UK with a network of 192 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 188 franchised sales outlets and 4 non-franchised sales operations from 144 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".
Vertu Motors Group websites - https://investors.vertumotors.com / www.vertucareers.com Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcycles.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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

POSURSRRSAUWUUR