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| Date | 11 Apr 2025 |
| Time | 07:01:00 |
| Category | Miscellaneous |
| ID | 6004E |
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11 April 2025 |
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Vertu Motors plc |
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("Vertu Motors" or the "Company") |
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Management of share buyback programme and notice of year end results |
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Since the Group began Share Buybacks in October 2018, over £36.8m has been returned to shareholders, reducing the Company's shares in issue by 17.5% over the same period. Further to the £12 million share buyback programme announced on 6 February 2025 (the "Buyback Programme") of which £1.9 million has been deployed to date, the Company announces that it has entered into an irrevocable and non-discretionary agreement with Stifel Nicolaus Europe Limited ("Stifel") to purchase shares during the closed period commencing 14 April 2025 and ending 13 May 2025. Stifel will make its trading decisions in relation to the Company's shares independently of and uninfluenced by the Company.
Any share purchases will be effected within certain pre-set parameters and in accordance with the remaining terms of the Buyback Programme.
The Company also confirms that it will announce its preliminary results for the year ended 28 February 2025 on Wednesday 14 May 2025.
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Vertu Motors plc |
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Tel: +44 (0) 191 491 2121 |
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Robert Forrester, CEO |
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Karen Anderson, CFO Phil Clark, Investor Relations |
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Stifel (Nominated Adviser and Broker) |
Tel: +44 (0) 207 710 7688 |
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Matthew Blawat |
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Nick Harland |
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Camarco |
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Tel: +44 (0) 203 757 4980 |
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Billy Clegg |
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Tom Huddart |
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Notes to Editors |
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Vertu Motors is the fourth largest automotive retailer in the UK with a network of 198 sales outlets across the UK. |
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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 154 locations across the UK. |
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Vertu's Mission Statement is to "deliver an outstanding customer motoring experience through honesty and trust". |
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Vertu Motors Group websites - https://investors.vertumotors.com / www.vertucareers.com |
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