REG - Vertu Motors PLC - Statement re: press speculation

Vertu MotorsAnnouncement

15/10/2020 16:30

RNS Number : 2495C
  
Vertu Motors PLC
  
15 October 2020
  
 

15 October 2020
 
Vertu Motors plc ("Vertu Motors" or "Company")
 
Statement re: press speculation
 
Vertu Motors plc, the UK automotive retailer with a network of 134 sales and aftersales outlets across the UK, notes the recent press speculation and confirms, as per the stated strategy of the Company, that it is in discussions with a number of parties concerning the acquisition of a number of dealerships, including a small number of BMW dealerships. Any acquisitions would be funded from existing resources.  Discussions are ongoing and there can be no certainty as to the outcome of the discussions.
 
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
 
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For further information please contact:
 




Vertu Motors plc

Robert Forrester, CEO

Karen Anderson, CFO


Tel: 0191 491 2121
 




Zeus Capital Limited

Jamie Peel
Andrew Jones
Dominic King


Tel: 020 3829 5000




Camarco
Billy Clegg
Tom Huddart


Tel: 020 3757 4983




 
Notes to Editors
Vertu Motors is the fifth largest automotive retailer in the UK with a network of 134 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 131 franchised sales outlets and 3 non-franchised sales operations from 110 locations across the UK.
 
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust".
 
Vertu Motors Group websites - investors.vertumotors.com / www.vertucareers.com
Vertu brand websites - www.vertumotors.com / 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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