Last checked at 23 Jun 2023 07:00
23 June 2023
AUTO TRADER GROUP PLC
SATISFACTION OF DEFERRED CONSIDERATION
AUTO TRADER GROUP PLC (the "Company") announces that on 22 June 2023 it allotted an aggregate of 7,849,782 ordinary shares of £0.01 each ("Ordinary Shares") at a price of 626.44 pence per Ordinary Share (the "New Shares"), based on the Company's volume weighted average price from 22 May 2023 to 21 June 2023, (valued at approximately £49,173,848) to the vendors of Autorama (UK) Limited as satisfaction of the deferred consideration payable by the Company pursuant to the terms of the acquisition announced on 17 May 2022. There is no further deferred consideration payable in either cash or shares to any former shareholders of Autorama (UK) Limited.
Application for the New Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to be admitted to trading on the main market for listed securities of the London Stock Exchange (together, "Admission") has been made and it is expected that Admission will take place on or before 8.00am on 27 June 2023. The proposed issue and allotment of the New Shares is conditional upon Admission becoming effective.
Following Admission, the Company's issued share capital consists of 924,450,661 Ordinary Shares, of which 4,301,711 are held in treasury. The total number of voting rights in the Company is 920,148,950, 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 the Company under the FCA's Disclosure Guidance and Transparency Rules.
Notification made by
Claire Baty, Company Secretary
23 June 2023
Enquiries:
Powerscourt autotrader@powerscourt-group.com |
+44 (0) 20 7250 1446 |
About Auto Trader
Auto Trader Group plc is the UK's largest automotive marketplace. It listed on the London Stock Exchange in March 2015 and is a member of the FTSE 100 Index.
Auto Trader's purpose is Driving Change Together. Responsibly. Auto Trader is committed to creating a diverse and inclusive culture, it aims to build stronger partnerships with its customers and use its voice and influence to drive more environmentally friendly vehicle choices.
With the largest number of car buyers and the largest choice of trusted stock, Auto Trader's marketplace sits at the heart of the UK car buying process. That marketplace is built on an industry-leading technology and data platform, which is increasingly used across the automotive industry. Auto Trader is continuing to bring more of the car buying journey online, creating an improved buying experience, whilst enabling all its retailer partners to sell vehicles online.
Auto Trader publishes a monthly used car Retail Price Index which is based on pricing analysis of circa 800,000 unique vehicles. This data is used by the Bank of England to feed the broader UK economic indicators.
For more information, please visit: https://plc.autotrader.co.uk/