VTU.L

Vertu Motors Plc
Vertu Motors PLC - Transaction in Own Shares
31st October 2024, 07:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 3189K
Vertu Motors PLC
31 October 2024
 

31 October 2024




Vertu Motors plc

 




("Vertu Motors" or the "Company")





Transaction in Own Shares

 








Vertu Motors plc (AIM: VTU) announces that on 30 October 2024 it purchased 82,488 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

30 October 2024

Number of ordinary shares purchased

82,488

Highest price paid per ordinary share

67.4 pence

Lowest price paid per ordinary share

66.4 pence

Volume weighted average price paid per ordinary share

67.0789 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 333,627,071 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 £33.6m has been returned to shareholders, reducing the Company's shares in issue by 16.0% 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:        

30 October 2024







Aggregate information:

 







Aggregated Volume

Volume-weighted
average price (pence)

Venue

 

82,488

67.0789 pence

London Stock Exchange









Individual transactions:

 







22,488

66.4 pence

12:54 UK


20,000

67.4 pence

16:27 UK


40,000

67.3 pence

16:40 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 / www.vertucareers.com
Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.macklinmotors.co.uk / www.vertumotorcycles.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
POSURAURSKUROUA]]>
TwitterFacebookLinkedIn