Vertu Motors ( (GB:VTU) ) just unveiled an announcement.
Vertu Motors PLC has repurchased 20,000 ordinary shares as part of its ongoing share buyback program, which began in October 2018. This initiative has returned over £36.5 million to shareholders, reducing the company’s shares in issue by 17.3%. The repurchased shares will be canceled, adjusting the total number of shares with voting rights to 328,259,144. This move 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 198 sales outlets across the country. Established in 2006, the company aims to consolidate the UK motor retail sector by acquiring motor retail operations to expand its dealership network. Vertu Motors focuses on both acquisition and organic growth strategies to enhance operational efficiencies within its national dealership network.
YTD Price Performance: -14.04%
Average Trading Volume: 487,888
Technical Sentiment Signal: Buy
Current Market Cap: £164M
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