REG - Vertu Motors PLC - Transaction in Own Shares

Vertu MotorsAnnouncement

30/05/2023 07:15

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RNS Number : 8943A  Vertu Motors PLC  30 May 2023

 30 May 2023
 Vertu Motors plc

 ("Vertu Motors" or the "Company")

 Transaction in Own Shares

 Vertu Motors plc (AIM: VTU) announces that on 26 May 2023 it purchased 347,244
 ordinary shares of 10p each in the Company (the "Repurchased Shares"),
 pursuant to the share buyback programme (the "Buyback Programme") that was
 announced on 10 May 2023, as follows (together the "Transaction"):

 

 Date of purchase                                                 26 May 2023
 Number of ordinary shares purchased                              347,244
 Highest price paid per ordinary share                            62 pence
 Lowest price paid per ordinary share                             61.2 pence
 Volume weighted average price paid per ordinary share            61.7976 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 346,272,554 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
 ("Zeus"), are set out below:

 Schedule of Purchases:
 Shares purchased:                   Vertu Motors plc (ISIN: GB00B1GK4645)
 Date of purchases:                  26 May 2023

 Aggregate information:

 Aggregated Volume                   Volume-weighted              Venue

average price (pence)
 347,244                             61.7976                      London Stock Exchange

 Individual transactions:

 12,677                              62.00 pence                  08:24 UK
 200,000                             62.00 pence                  08:36 UK
 2,000                               61.50 pence                  08:41 UK
 130                                 61.50 pence                  09:40 UK
 2,000                               61.50 pence                  09:40 UK
 1,087                               61.50 pence                  09:47 UK
 2,440                               61.50 pence                  09:47 UK
 2,000                               61.50 pence                  09:48 UK
 130                                 61.50 pence                  09:48 UK
 4                                   61.50 pence                  09:48 UK
 1,737                               61.50 pence                  09:48 UK
 3,039                               61.50 pence                  10:02 UK
  10,000                             61.20 pence                  11:44 UK
  12,570                             61.50 pence                  15:59 UK
  12,155                             61.50 pence                  15:59 UK
  809                                61.50 pence                  15:59 UK
  25                                 61.50 pence                  15:59 UK
  4,441                              61.50 pence                  16:00 UK
  70,000                             61.50 pence                  16:02 UK
  1                                  61.20 pence                  16:29 UK
  9,999                              61.50 pence                  16:36 UK

 Vertu Motors plc                                                 Tel: +44 (0) 191 491 2121
 Robert Forrester, CEO
 Karen Anderson, CFO

 Zeus (Nominated Adviser and Broker)                              Tel: +44 (0) 203 829 5000
 Jamie Peel
 Andrew Jones
 Dominic King

 Camarco                                                          Tel: +44 (0) 203 757 4983
 Billy Clegg
 Tom Huddart

 Notes to Editors
 Vertu Motors is the fourth largest automotive retailer in the UK with a
 network of 189 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 185 franchised sales outlets and 4
 non-franchised sales operations from 141 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)

 

Date of purchase

26 May 2023

Number of ordinary shares purchased

347,244

Highest price paid per ordinary share

62 pence

Lowest price paid per ordinary share

61.2 pence

Volume weighted average price paid per ordinary share

61.7976 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 346,272,554 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
("Zeus"), are set out below:

Schedule of Purchases:

 

Shares purchased:

Vertu Motors plc (ISIN: GB00B1GK4645)

Date of purchases:

26 May 2023

Aggregate information:

 

Aggregated Volume

Volume-weighted

average price (pence)

Venue

 

347,244

61.7976

London Stock Exchange

Individual transactions:

 

12,677

62.00 pence

08:24 UK

200,000

62.00 pence

08:36 UK

2,000

61.50 pence

08:41 UK

130

61.50 pence

09:40 UK

2,000

61.50 pence

09:40 UK

1,087

61.50 pence

09:47 UK

2,440

61.50 pence

09:47 UK

2,000

61.50 pence

09:48 UK

130

61.50 pence

09:48 UK

4

61.50 pence

09:48 UK

1,737

61.50 pence

09:48 UK

3,039

61.50 pence

10:02 UK

 10,000

61.20 pence

11:44 UK

 12,570

61.50 pence

15:59 UK

 12,155

61.50 pence

15:59 UK

 809

61.50 pence

15:59 UK

 25

61.50 pence

15:59 UK

 4,441

61.50 pence

16:00 UK

 70,000

61.50 pence

16:02 UK

 1

61.20 pence

16:29 UK

 9,999

61.50 pence

16:36 UK

Vertu Motors plc

 

Tel: +44 (0) 191 491 2121

Robert Forrester, CEO

Karen Anderson, CFO

Zeus (Nominated Adviser and Broker)

Tel: +44 (0) 203 829 5000

Jamie Peel

Andrew Jones

Dominic King

Camarco

 

Tel: +44 (0) 203 757 4983

Billy Clegg

Tom Huddart

Notes to Editors

 

Vertu Motors is the fourth largest automotive retailer in the UK with a
network of 189 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 185 franchised sales outlets and 4
non-franchised sales operations from 141 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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