REG - Vertu Motors PLC - Transaction in Own Shares

Vertu MotorsAnnouncement

24/05/2019 08:30

RNS Number : 0551A
Vertu Motors PLC
24 May 2019
 


24 May 2019
Vertu Motors plc
 
("Vertu Motors" or the "Company")
 
Transaction in Own Shares
 
 
Vertu Motors plc (AIM: VTU) announces that on 23 May 2019, it purchased 100,000 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 10 October 2018 as follows:
 








Date of purchase


23 May 2019




Number of ordinary shares purchased


100,000




Highest price paid per ordinary share


40.00 pence




Lowest price paid per ordinary share


40.00 pence




Volume weighted average price paid per ordinary share


40.0000 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 375,769,323 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, are set out below:
 
Schedule of Purchases: 




Shares purchased:        


Vertu Motors plc (ISIN: GB00B1GK4645)




Date of purchases:        


23 May 2019




 


 




 
Aggregate information:
 
 




Aggregated volume


Volume-weighted
average price (pence)


Venue




100,000


40.0000


London Stock Exchange




 
Individual transactions:
 
10,900              40.00 pence                  08:20 UK

23,796              40.00 pence                  09:04 UK
25,000              40.00 pence                  11:42 UK
7,468                40.00 pence                  12:17 UK
32,836              40.00 pence                  12:18 UK



 
For further information please contact:
 




Vertu Motors plc

Robert Forrester, CEO

Karen Anderson, CFO


Tel: 0191 491 2111

Tel: 0191 491 2112




 
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 sixth largest automotive retailer in the UK with a network of 123 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 120 franchised sales outlets and 3 non-franchised sales operations from 104 locations across the UK.
Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". 
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
 
 




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