Transaction in Own Shares

RNS Number : 7502J
Vertu Motors PLC
07 December 2018
 

07 December 2018

Vertu Motors plc

 

("Vertu Motors" or the "Company")

 

Transaction in Own Shares

 

 

Vertu Motors plc (AIM: VTU) announces that on 06 December 2018, it purchased 25,338 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 10 October 2018 as follows:

 

Date of purchase

06 December 2018

Number of ordinary shares purchased

25,338

Highest price paid per ordinary share

35.75 pence

Lowest price paid per ordinary share

35.50 pence

Volume weighted average price paid per ordinary share

35.7458 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 376,858,713 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:        

06 December 2018

 

 

 

Aggregate information:

 

 

Aggregated volume

Volume-weighted

average price (pence)

Venue

25,338

35.7458

London Stock Exchange

 

Individual transactions:

 

 2

35.50 pence

 12:02 UK

 

 423

35.50 pence

 12:02 UK

 

 1,790

35.75 pence

 13:58 UK

 

 911

35.75 pence

 15:20 UK

 

 906

35.75 pence

 15:34 UK

 

 912

35.75 pence

 15:51 UK

 

 1,904

35.75 pence

 15:57 UK

 

 910

35.75 pence

 15:59 UK

 

 917

35.75 pence

 16:16 UK

 

 855

35.75 pence

 16:22 UK

 

 14,470

35.75 pence

 16:23 UK

 

 1,179

35.75 pence

 16:29 UK

 

 159

35.75 pence

 16:29 UK

 

 

 

 

           

 

 

For further information please contact:

 

Vertu Motors plc
Robert Forrester, CEO
Michael Sherwin, CFO

Tel: 0191 491 2111
Tel: 0191 491 2112

 

Zeus Capital Limited
Nicholas How

Andrew Jones

Dominic King

Tel: 020 3829 5000

 

Camarco

Billy Clegg

Tom Huddart

Tel: 020 3757 4983

 

 

Notes to Editors

Vertu Motors is the sixth largest automotive retailer in the UK with a network of 125 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 122 franchised sales outlets and 3 non-franchised sales operations from 106 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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