Transaction in Own Shares

RNS Number : 9692K

Vertu Motors PLC

02 September 2019

 

02 September 2019

Vertu Motors plc

("Vertu Motors" or the "Company")

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 02 September 2019, it purchased 126,237 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 24 July 2019 as follows:

Date of purchase 02 September 2019 Number of ordinary shares purchased 126,237 Highest price paid per ordinary share 34.50 pence Lowest price paid per ordinary share 34.00 pence Volume weighted average price paid per ordinary share 34.2162 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 369,993,902 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:	02 September 2019

Aggregate information:

Aggregated Volume	Volume-weighted average price (pence)	Venue
126,237	34.2162	London Stock Exchange

Individual transactions:

110	34.35 pence	09:33 UK
25,000	34.50 pence	09:43 UK
24,890	34.35 pence	10:39 UK
7,279	34.20 pence	10:39 UK
18	34.00 pence	12:02 UK
259	34.00 pence	12:02 UK
1	34.00 pence	12:02 UK
3,700	34.00 pence	12:02 UK
780	34.00 pence	12:02 UK
10,000	34.00 pence	12:22 UK
474	34.00 pence	12:22 UK
474	34.00 pence	12:22 UK
10,140	34.00 pence	12:22 UK
4,618	34.00 pence	12:22 UK
10,000	34.00 pence	12:22 UK
1,744	34.00 pence	12:22 UK
3,488	34.00 pence	12:22 UK
4,304	34.00 pence	12:22 UK
3,604	34.25 pence	14:51 UK
3,682	34.25 pence	14:51 UK
611	34.25 pence	14:53 UK
2,640	34.25 pence	15:00 UK
2,000	34.25 pence	15:00 UK
1,749	34.25 pence	15:00 UK
1,862	34.25 pence	15:00 UK
1,749	34.25 pence	15:00 UK
327	34.10 pence	16:21 UK
601	34.10 pence	16:23 UK
133	34.10 pence	16:27 UK

For further information please contact:

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

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network of 123 sales outlets across the UK. Its' dealerships operate predominantly under the Bristol Street Motors, Vertu, Farnell 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 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.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.farnelllandrover.com / www.farnelljaguar.com / www.vertuvolkswagen.com / www.vertumercedes-benz.com

 

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