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Transaction in Own Shares

12th Feb 2025 07:00

RNS Number : 7601W
Vertu Motors PLC
12 February 2025
 

12 February 2025

Vertu Motors plc

 

("Vertu Motors" or the "Company")

Transaction in Own Shares

 

Vertu Motors plc (AIM: VTU) announces that on 11 February 2025 it purchased 90,000 ordinary shares of 10p each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 06 February 2025, as follows (together the "Transaction"):

Date of purchase

11 February 2025

Number of ordinary shares purchased

90,000

Highest price paid per ordinary share

51.1 pence

Lowest price paid per ordinary share

49.1 pence

Volume weighted average price paid per ordinary share

50.8722 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 331,115,676 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 £35.1m has been returned to shareholders, reducing the Company's shares in issue by 16.7% 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:

11 February 2025

Aggregate information:

 

Aggregated Volume

Volume-weightedaverage price (pence)

Venue

 

90,000

50.8722 pence

London Stock Exchange

Individual transactions:

 

10,000

49.1 pence

14:17 UK

30,000

51.1 pence

16:29 UK

50,000

51.1 pence

16:36 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 198 sales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors and Vertu 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 195 franchised sales outlets and 3 non-franchised sales operations from 153 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.comVertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com / www.vertumotorcycles.com

 

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