REG - Vertu Motors PLC - Transaction in Own Shares

Vertu MotorsAnnouncement

07/11/2024 07:00

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RNS Number : 2441L  Vertu Motors PLC  07 November 2024

 7 November 2024
 Vertu Motors plc

 ("Vertu Motors" or the "Company")

 Transaction in Own Shares

 Vertu Motors plc (AIM: VTU) announces that on 6 November 2024 it purchased
 57,500 ordinary shares of 10p each in the Company (the "Repurchased Shares"),
 pursuant to the share buyback programme (the "Buyback Programme") that was
 announced on 16 October 2024, as follows (together the
 "Transaction"):

 Date of purchase                                                 6 November 2024
 Number of ordinary shares purchased                              57,500
 Highest price paid per ordinary share                            67.9 pence
 Lowest price paid per ordinary share                             67.7 pence
 Volume weighted average price paid per ordinary share            67.7983 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 333,217,681 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.

 Since the Group began Share Buybacks in October 2018, over £33.9m has been
 returned to shareholders, reducing the Company's shares in issue by 16.1% over
 the same period.

 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, Stifel Nicolaus Europe
 Limited ("Stifel"), are set out below:

 Schedule of Purchases:
 Shares purchased:                   Vertu Motors plc (ISIN: GB00B1GK4645)
 Date of purchases:                  6 November 2024

 Aggregate information:

 Aggregated Volume                   Volume-weighted              Venue

average price (pence)
 57,500                              67.7983 pence                London Stock Exchange

 Individual transactions:

 19,000                              67.9 pence                   11:15 UK
 18,500                              67.8 pence                   11:15 UK
 20,000                              67.7 pence                   11:56 UK

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

 Phil Clark, Investor Relations

 Stifel (Nominated Adviser and Broker)                            Tel: +44 (0) 207 710 7688
 Matthew Blawat
 Nick Harland

 Camarco                                                          Tel: +44 (0) 203 757 4980
 Billy Clegg
 Tom Huddart

 Notes to Editors
 Vertu Motors is the fourth largest automotive retailer in the UK with a
 network of 202 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 198 franchised sales outlets and 4
 non-franchised sales operations from 154 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.vertumotorcycles.com (http://www.vertumotorcycles.com)

 

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