Transaction in Own Shares

RNS Number : 3546G
Vertu Motors PLC
01 March 2018
 

1 March 2018

 

Vertu Motors plc

 

("Vertu Motors" or the "Company")

 

Transaction in Own Shares

 

 

Vertu Motors plc (AIM: VTU) announces that on 28 February 2018, it purchased 187,000 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 26 July 2017 and subsequently extended on 11 October 2017 and 25 January 2018, as follows:

 

 

Date of purchase:             

28 February 2018

Number of ordinary shares purchased:

187,000

Highest price paid per ordinary share:

43.90 pence

Lowest price paid per ordinary share:

43.90 pence

Volume weighted average price paid per ordinary share:

43.90 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 384,934,517, 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, Canaccord Genuity Limited, are set out below:

 

Schedule of Purchases: 

Shares purchased:        

Vertu Motors plc (ISIN: GB00B1GK4645)

Date of purchases:        

28 February 2018



 

Aggregate information:

Aggregated volume

Volume-weighted

average price

Venue

187,000

43.90

London Stock Exchange

 

Individual transactions:

Number of shares
purchased

Transaction price
(per share)

 Time of transaction

187,000

43.90 pence

 

8:20 AM (UK)

 

 

 

For further information please contact:

Vertu Motors plc
Robert Forrester, CEO
Michael Sherwin, CFO

Tel: 0191 491 2111
Tel: 0191 491 2112

Canaccord Genuity Limited
Chris Connors

Henry Fitzgerald - O'Connor
Richard Andrews

Tel: 020 7523 8000

 

Zeus Capital Limited
Dominic King

Tel: 020 3829 5000

 

Billy Clegg

Tom Huddart

Tel: 020 3757 4983

Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 121 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 118 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.

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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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