VERTU MOTORS PLC-Transaction in Own Shares

VERTU MOTORS PLC-Transaction in Own Shares

Transaction in Own Shares

Vertu Motors plc (AIM: VTU) announces that on 12 May 2023 it purchased 264,331 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

12 May 2023

Number of ordinary shares purchased

264,331

Highest price paid per ordinary share

59 pence

Lowest price paid per ordinary share

59 pence

Volume weighted average price paid per ordinary share

59 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 348,444,109 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:        

12 May 2023

Aggregate information:

 

Aggregated Volume

Volume-weighted
average price (pence)

Venue

 

264,331

59

London Stock Exchange

Individual transactions:

 

7,660

59.00 pence

09:00 UK

 7,660

59.00 pence

09:00 UK

 7,660

59.00 pence

09:00 UK

 7,660

59.00 pence

09:00 UK

 22,222

59.00 pence

11:41 UK

 33,333

59.00 pence

11:41 UK

 14,815

59.00 pence

11:41 UK

 14,816

59.00 pence

11:41 UK

 7,407

59.00 pence

11:41 UK

 7,407

59.00 pence

11:41 UK

 3,676

59.00 pence

12:18 UK

 4,079

59.00 pence

12:58 UK

 135

59.00 pence

12:58 UK

 25,801

59.00 pence

14:25 UK

 1

59.00 pence

16:17 UK

 10,453

59.00 pence

16:35 UK

 7,541

59.00 pence

16:35 UK

 33,803

59.00 pence

16:35 UK

 36,291

59.00 pence

16:35 UK

 11,911

59.00 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".

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