REG - Vertu Motors PLC - Transaction in Own Shares

Vertu MotorsAnnouncement

04/04/2018 08:30

RNS Number : 7497J
Vertu Motors PLC
04 April 2018
 

04 April 2018
 
Vertu Motors plc
 
("Vertu Motors" or the "Company")
 
Transaction in Own Shares
 
 
Vertu Motors plc (AIM: VTU) announces that on 3 April 2018, it purchased 380,000 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 26 July 2017 and subsequently extended on 11 October 2017 and 25 January 2018, as follows:
 
 




Date of purchase:             


03 April 2018




Number of ordinary shares purchased:


380,000




Highest price paid per ordinary share:


44.50 pence




Lowest price paid per ordinary share:


43.80 pence




Volume weighted average price paid per ordinary share:


43.34 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 379,361,844 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, Canaccord Genuity Limited, are set out below:
 
Schedule of Purchases: 




Shares purchased:        


Vertu Motors plc (ISIN: GB00B1GK4645)




Date of purchases:        


03 April 2018














 
Aggregate information:
 
 




Aggregated volume


Volume-weighted
average price


Venue




380,000


44.34


London Stock Exchange




 
Individual transactions:




23,644


43.85 pence


10:46 AM (UK)




22,471


43.80 pence


10:49 AM (UK)




60,230


44.00 pence


11:53 AM (UK)




50,000


44.50 pence


01:12 PM (UK)




223,655


44.50 pence


01:25 PM (UK)




 
For further information please contact:




Vertu Motors plc

Robert Forrester, CEO

Michael Sherwin, CFO


Tel: 0191 491 2111

Tel: 0191 491 2112




Canaccord Genuity Limited

Chris Connors
Henry Fitzgerald - O'Connor

Richard Andrews


Tel: 020 7523 8000




 
Zeus Capital Limited

Dominic King


Tel: 020 3829 5000




 
Camarco
Billy Clegg
Tom Huddart


Tel: 020 3757 4983




 
Notes to Editors
Vertu Motors, the UK automotive retailer with a proven growth strategy, is the sixth largest automotive retailer in the UK with a network of 121 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 118 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.
Vertu Motors Group websites - www.vertumotors.com / www.vertucareers.com
Vertu brand websites - 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
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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