Vertu Motors PLC Potential acquisition (8299F)
09 Novembre 2022 - 11:30AM
UK Regulatory
TIDMVTU
RNS Number : 8299F
Vertu Motors PLC
09 November 2022
9 November 2022
Vertu Motors plc ("Vertu Motors" or "Company")
Potential acquisition
Vertu Motors confirms that it is in advanced discussions
regarding the potential acquisition of Helston Garages Group
Limited, a privately owned predominantly premium manufacturer
automotive retail group based in the Southwest of England. These
discussions may or may not lead to a transaction. Funding for the
transaction, were it to occur, would be from re-financed and new
debt facilities, including long-term mortgage funding.
Further announcements will be made in due course as
necessary.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
ENDS
Vertu Motors plc
Robert Forrester, CEO Tel: 0191 491 2121
Karen Anderson, CFO
Phil Clark, Investor Relations
Zeus Capital Limited
Jamie Peel Tel: 020 3829 5000
Andrew Jones
Dominic King
Camarco
Billy Clegg Tel: 020 3757 4983
Tom Huddart
Notes to Editors
Vertu Motors is the fifth largest automotive retailer in the UK
with a network of 164 sales outlets across the UK. Its dealerships
operate predominantly under the Bristol Street Motors, Vertu,
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 160 franchised sales outlets and 4
non-franchised sales operations from 123 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.vertumotorcyles.com
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END
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November 09, 2022 05:30 ET (10:30 GMT)
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