REG - Vertu Motors PLC - Potential acquisition

Vertu MotorsAnnouncement

09/11/2022 10:30

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RNS Number : 8299F  Vertu Motors PLC  09 November 2022

9 November 2022

 

Vertu Motors plc ("Vertu Motors" or "Company")

Potential acquisition

Vertu Motors confirms that it is in advanced discussions regarding the
potential acquisition of Helston Garages Group Limited, a privately owned
predominantly premium manufacturer automotive retail group based in the
Southwest of England. These discussions may or may not lead to a transaction.
Funding for the transaction, were it to occur, would be from re-financed and
new debt facilities, including long-term mortgage funding.

Further announcements will be made in due course as necessary.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

ENDS

 

 Vertu Motors plc
 Robert Forrester, CEO            Tel: 0191 491 2121
 Karen Anderson, CFO

 Phil Clark, Investor Relations
 Zeus Capital Limited
 Jamie Peel                       Tel: 020 3829 5000

 Andrew Jones

 Dominic King
 Camarco
 Billy Clegg                      Tel: 020 3757 4983

 Tom Huddart

 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network
of 164 sales outlets across the UK. Its dealerships operate predominantly
under the Bristol Street Motors, Vertu, 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 160 franchised sales outlets and 4
non-franchised sales operations from 123 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/
(https://investors.vertumotors.com/) /www.vertucareers.com
(http://www.vertucareers.com)

Vertu brand websites - www.vertumotors.com (http://www.vertumotors.com) /
www.bristolstreet.co.uk (http://www.bristolstreet.co.uk) / www.vertuhonda.com
(http://www.vertuhonda.com) / www.vertutoyota.com (http://www.vertutoyota.com)
/ www.macklinmotors.co.uk (http://www.macklinmotors.co.uk) /
www.vertumotorcyles.com (http://www.vertumotorcyles.com)

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