Vertu Motors PLC Transaction in Own Shares

RNS Number : 4853N

Vertu Motors PLC

25 November 2024

 

25 November 2024
Vertu Motors plc
("Vertu Motors" or the "Company")
Transaction in Own Shares
Vertu Motors plc (AIM: VTU) announces that on 22 November 2024 it purchased 240,002 ordinary shares of 10p each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 16 October 2024, as follows (together the "Transaction"):
Date of purchase		22 November 2024
Number of ordinary shares purchased		240,002
Highest price paid per ordinary share		60.8 pence
Lowest price paid per ordinary share		60.2 pence
Volume weighted average price paid per ordinary share		60.5542 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 332,503,357 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.   Since the Group began Share Buybacks in October 2018, over £34.3m has been returned to shareholders, reducing the Company's shares in issue by 16.3% over the same period.
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:	22 November 2024
Aggregate information:
Aggregated Volume	Volume-weighted average price (pence)	Venue
240,002	60.5542 pence	London Stock Exchange
Individual transactions:
25,000	60.2 pence	09:28 UK
125,000	60.6 pence	10:16 UK
45,000	60.8 pence	13:24 UK
25,000	60.5 pence	14:14 UK
20,002	60.6 pence	15:34 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 199 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 196 franchised sales outlets and 3 non-franchised sales operations from 153 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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