27 Mar 2007 08:01
Vertu Motors PLC27 March 2007 27th March 2007 Vertu Motors plc ("Vertu Motors" or the "Company") Completion of the acquisition of Bristol Street Motors Vertu Motors plc, the acquirer and consolidator of UK motor retail businesses,announces that it has formally completed the acquisition of Bristol Street GroupLimited and the placing of £26.2 million of its ordinary shares, followingapproval by shareholders at the Extraordinary General Meeting held on 26 March2007 and the re-admission of the entire issued share capital of Vertu Motors totrading on AIM ("Completion"). Following completion of the acquisition and placing, the Company has 90,828,254ordinary 10p shares in issue. Brewin Dolphin Securities is the nominated advisor and broker to Vertu Motors. Robert Forrester, CEO of Vertu Motors said: "We are delighted to have completed the acquisition of Bristol Street Motors,Paul Williams and his team have worked tirelessly to bring this transaction tofruition and it is my pleasure to welcome them into the Vertu Motors fold. "The completion of this transaction is the first step in the delivery of ourstrategy as set out at the time of our IPO and provides us with the perfectplatform from which we can take advantage of consolidation opportunities in theUK motor retail market." - Ends - For further information please contact: Robert Forrester, CEO, Vertu Motors plc, Tel: 0191 206 4617 Andrew Kitchingman, Brewin Dolphin Securities, Tel: 0845 270 8613 Jonathon Brill/Billy Clegg/Edward Westropp, Financial Dynamics, Tel: 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange