Vertu Regulatory News (VTU)

21 Jan 2008 07:00

Vertu Motors PLC21 January 2008 21st January 2008 Vertu Motors plc ("Vertu" or the "Group") Expansion of Motor Nation Vertu Motors plc, the UK's 10th largest motor retail group, is pleased toannounce that it has completed a new lease on premises in Doncaster, Yorkshirefor the opening of a new Motor Nation used car outlet. This will add to theGroup's existing Motor Nation outlets in Birmingham, Coventry and Widnes. Thisorganic expansion of the Motor Nation business is in-line with the Group'sstrategy to expand the existing brands of the Group and particularly to developstrong used car operations. The 1.3 acre site, in a prominent location on Thorne Road in Doncaster, iscurrently unoccupied. It is intended that the outlet will open for business inMarch 2008. The site is a well invested motor retail facility and requires nomaterial capital expenditure. In order to maximise marketing benefits from the two brands of the Group, MotorNation outlets will, in due course, be branded Bristol Street Motor Nation. Robert Forrester, CEO of Vertu Motors said: "I am pleased we have delivered on our strategy to expand our Motor Nation brandinto this new geography for Vertu Motors. The outlet has significant potentialand is the Group's first entry into Yorkshire. It is our intention to continueto identify additional sites with which to expand Bristol Street Motor Nation." - 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 Billy Clegg/Edward Westropp, Financial Dynamics, Tel: 020 7831 3113 Notes to editors Vertu Motors is the 10th largest motor retailer in the United Kingdom with 47dealerships forming a national network across England, operating under theBristol Street Motors and Motor Nation brands. Manufacturing partners includeCitroen, Ford, Iveco, Honda, Peugeot, Renault, Vauxhall, Fiat Commercials andHyundai. Vertu Motors was established in November 2006 with the aim of consolidating theUK motor retail sector. The company listed on AIM in December 2006 and raised£25m. The Executive Directors are experienced within the sector, havingpreviously held senior positions within Reg Vardy. In March 2007, the Group acquired the 13th largest motor retailer in the UnitedKingdom, Bristol Street Motors. In the summer of 2007, Vertu acquired BlakeHoldings, Grantham Motor Company Limited and a Ford dealership in Morpeth,Northumberland. It is intended that the Company will continue to acquire motor retail operationsin the form of franchised dealerships and used car only operations. TheCompany's acquisition strategy is supplemented by a focused organic growthstrategy to drive operational efficiencies through the national network. www.vertumotors.com This information is provided by RNS The company news service from the London Stock Exchange