Vertu Motors PLC Transaction in Own Shares (3377H)
March 12 2018 - 3:30AM
UK Regulatory
TIDMVTU
RNS Number : 3377H
Vertu Motors PLC
12 March 2018
12 March 2018
Vertu Motors plc
("Vertu Motors" or the "Company")
Transaction in Own Shares
Vertu Motors plc (AIM: VTU) announces that on 9 March 2018, it
purchased 295,000 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 26 July 2017 and subsequently extended on 11 October
2017 and 25 January 2018, as follows:
Date of purchase: 9 March 2018
Number of ordinary shares purchased: 295,000
Highest price paid per ordinary share: 42.75 pence
Lowest price paid per ordinary share: 42.75 pence
Volume weighted average price paid per ordinary share: 42.75 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
383,302,517, 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, Canaccord Genuity Limited, are set out
below:
Schedule of Purchases:
Shares purchased: Vertu Motors plc (ISIN: GB00B1GK4645)
Date of purchases: 9 March 2018
Aggregate information:
Aggregated volume Volume-weighted Venue
average price
295,000 42.75 London Stock Exchange
Individual transactions:
Number of shares Transaction price Time of transaction
purchased (per share)
295,000 42.75 pence 9:29 AM (UK)
For further information please contact:
Vertu Motors plc Tel: 0191 491 2111
Robert Forrester, CEO Tel: 0191 491 2112
Michael Sherwin, CFO
Canaccord Genuity Limited Tel: 020 7523 8000
Chris Connors
Henry Fitzgerald - O'Connor
Richard Andrews
Tel: 020 3829 5000
Zeus Capital Limited
Dominic King
Tel: 020 3757 4983
Camarco
Billy Clegg
Tom Huddart
Notes to Editors
Vertu Motors, the UK automotive retailer with a proven growth
strategy, is the sixth largest automotive retailer in the UK with a
network of 121 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 118 franchised sales outlets and 3
non-franchised sales operations from 104 locations across the
UK.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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