Vertu Motors ( (GB:VTU) ) just unveiled an update.
Vertu Motors PLC announced the repurchase of 155,232 ordinary shares as part of its ongoing share buyback programme, which began in October 2018. This initiative has returned over £36 million to shareholders, reducing the company’s shares in issue by 17.1%. The cancellation of these shares will adjust the total number of shares with voting rights to 329,447,673, impacting shareholder calculations under FCA rules. The buyback is part of Vertu’s strategy to enhance shareholder value and optimize its capital structure.
More about Vertu Motors
Vertu Motors is the fourth largest automotive retailer in the UK, operating 199 sales outlets under the Bristol Street Motors and Vertu brand names. Established in 2006, the company aims to consolidate the UK motor retail sector through acquisitions and organic growth, focusing on operational efficiencies across its national dealership network.
YTD Price Performance: -11.17%
Average Trading Volume: 439,552
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £168.8M
For an in-depth examination of VTU stock, go to TipRanks’ Stock Analysis page.