2nd Mar 2007 07:30
Vertu Motors PLC02 March 2007 2nd March 2007 Vertu Motors plc ("Vertu Motors" or the "Company") Placing to raise £26.2 million (the "Placing") Vertu Motors plc, the acquirer and consolidator of UK motor retail businesses,announces that a circular and an AIM admission document (the "Circular"), hasbeen published today with full details of the acquisition of Bristol StreetGroup Limited (the "Acquisition") and the Placing. As a result, the London StockExchange has restored trading in the Company's ordinary shares on AIM. The Company has raised £26.2 million by way of a Placing of new ordinary sharesby Brewin Dolphin Securities at an issue price of 75p per share. Theover-subscribed placing of 34,935,400 shares raised £26.2 million (£22.8 millionnet of expenses of the Placing and the Acquisition). Completion of the Placing and Acquisition will require the prior approval ofshareholders at the Extraordinary General Meeting (the "EGM") to be held at theoffices of Brewin Dolphin Securities Limited, Commercial Union House, 39 PilgrimStreet, Newcastle upon Tyne NE1 6RQ on 26 March 2007. Subject to shareholderapproval being granted at the EGM, it is currently anticipated that admission ofthe enlarged issued share capital of the Company to trading on AIM will occur on27 March 2007. Brewin Dolphin Securities is the nominated advisor and broker to Vertu Motors. - Ends - For further information please contact: Robert Forrester, CEO, Vertu Motors plc, Tel: 0191 206 4617 Andrew Kitchingman, Brewin Dolphin Securities, Tel: 0845 270 8613 Jonathon Brill/Billy Clegg/Edward Westropp, Financial Dynamics, Tel: 020 7831 3113 Copies of the Circular will be available free of charge to the public at theoffices of Brewin Dolphin Securities at 12 Smithfield Street, London EC2A 9BDand at Commercial Union House, 39 Pilgrim Street, Newcastle upon Tyne NE1 6RQfrom the date of issue until one month from admission to trading on AIM. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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