Transaction in Own Shares

RNS Number : 3164E
Vertu Motors PLC
17 October 2018
 

17 October 2018

Vertu Motors plc

 

("Vertu Motors" or the "Company")

 

Transaction in Own Shares

 

 

Vertu Motors plc (AIM: VTU) announces that on 16 October 2018, it purchased 134,000 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 10 October 2018 as follows:

 

Date of purchase

16 October 2018

Number of ordinary shares purchased

134,000

Highest price paid per ordinary share

38.75 pence

Lowest price paid per ordinary share

38.50 pence

Volume weighted average price paid per ordinary share

38.6444 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 378,723,049 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:        

16 October 2018



 

Aggregate information:

 

 

Aggregated volume

Volume-weighted

average price (pence)

Venue

134,000

38.6444

London Stock Exchange

 

Individual transactions:

30,000

38.50 pence

 16:26 UK

25,000

38.50 pence

 14:56 UK

945

38.65 pence

 14:46 UK

75,000

38.75 pence

 14:08 UK

3,055

38.65 pence

 12:07 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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