Vertu Motors PLC Transaction in Own Shares

RNS Number : 7877C

Vertu Motors PLC

04 September 2024

 

4 September 2024
Vertu Motors plc
("Vertu Motors" or the "Company")
Transaction in Own Shares
Vertu Motors plc (AIM: VTU) announces that on 3 September 2024 it purchased 72,000 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		3 September 2024
Number of ordinary shares purchased		72,000
Highest price paid per ordinary share		69.9 pence
Lowest price paid per ordinary share		68.7 pence
Volume weighted average price paid per ordinary share		69.3472 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 334,349,948 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:	3 September 2024
Aggregate information:
Aggregated Volume	Volume-weighted average price (pence)	Venue
72,000	69.3472 pence	London Stock Exchange
Individual transactions:
20,000	69.5 pence	09:00 UK
20,000	69.1 pence	09:55 UK
18,000	69.9 pence	10:59 UK
4,000	68.7 pence	11:15 UK
10,000	68.8 pence	14:48 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 193 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 189 franchised sales outlets and 4 non-franchised sales operations from 145 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

 

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