REG - Vertu Motors PLC - Transaction in Own Shares

Vertu MotorsAnnouncement

15/02/2022 07:15

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RNS Number : 7062B  Vertu Motors PLC  15 February 2022

15 February 2022

Vertu Motors plc

 

("Vertu Motors" or the "Company")

 

Transaction in Own Shares

 

 

Vertu Motors plc (AIM: VTU) announces that on 14 February 2022, it purchased
184,000 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 05 November 2021 as follows:

 

 Date of purchase                                       14 February 2022
 Number of ordinary shares purchased                    184,000
 Highest price paid per ordinary share                  64.20 pence
 Lowest price paid per ordinary share                   62.40 pence
 Volume weighted average price paid per ordinary share  63.5415 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 359,422,972 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.

 

Following this purchase the Buyback Programme of the Company is now
complete.  Pursuant to the Group's capital allocation strategy, the Board
will consider the allocation of funds to a further buyback in due course.

 

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:                  14 February 2022

 

Aggregate information:

 

 Aggregated Volume  Volume-weighted average price (pence)  Venue
 184,000            63.5415                                London Stock Exchange

 

 

 

 Individual transactions:-

 10,502    62.40 pence   11:46 UK
  110      62.40 pence   11:46 UK
  5,000    62.40 pence   11:46 UK
  3,854    62.40 pence   11:46 UK
  5,232    62.40 pence   11:46 UK
  5,370    62.40 pence   11:50 UK
  4,918    62.40 pence   12:02 UK
  9,538    62.40 pence   12:16 UK
  10,140   62.40 pence   12:17 UK
  4,316    62.40 pence   12:17 UK
  42       64.00 pence   12:47 UK
  4,805    64.00 pence   12:47 UK
  1,799    64.00 pence   12:47 UK
  1,799    64.00 pence   12:47 UK
  7,810    64.00 pence   12:47 UK
  8,765    64.00 pence   12:47 UK
  32,809   64.20 pence   14:43 UK
  17,191   64.20 pence   14:43 UK
  3,895    64.00 pence   15:29 UK
  3,895    64.00 pence   15:30 UK
  3,895    64.00 pence   15:33 UK
  4,059    64.00 pence   15:33 UK
  1,122    64.00 pence   15:33 UK
  5,181    64.00 pence   15:33 UK
  5,302    64.00 pence   15:33 UK
  2,937    64.00 pence   15:33 UK
  2,561    64.00 pence   15:33 UK
  2,027    64.00 pence   15:33 UK
  483      64.00 pence   15:33 UK
  14,643   64.00 pence   15:33 UK

 

 

For further information please contact:

 

 Vertu Motors plc        Tel: 0191 491 2111

Robert Forrester, CEO
Tel: 0191 491 2112

Karen Anderson, CFO
                         Tel: 020 3829 5000

 Zeus Capital Limited

Jamie Peel

 Andrew Jones

 Dominic King
                         Tel: 020 3757 4983

 Camarco

 Billy Clegg

 Tom Huddart

 

 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network
of 159 sales outlets across the UK. Its dealerships operate predominantly
under the Bristol Street Motors, Vertu 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 155 franchised sales outlets and 4
non-franchised sales operations from 120 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
(http://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.macklinmotors.co.uk (http://www.macklinmotors.co.uk) /
www.vertumotorcycles.com (http://www.vertumotorcycles.com)

 

 

 

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