Vertu Regulatory News (VTU)

20 Dec 2006 08:01

Vertu Motors PLC20 December 2006 20th December 2006 Vertu Motors plc ("Vertu" or the "Company") Successful £25.0 million fund raising and admission to AIM Vertu Motors plc, the newly incorporated company seeking to acquire andconsolidate UK motor retail businesses, has today been admitted to the AIMmarket of London Stock Exchange plc. £25.0 million (£23.6 million net ofexpenses) was raised for Vertu via an over-subscribed placing of 41,666,667shares at a price of 60p per ordinary share, valuing the Company at £28.0million. Brewin Dolphin Securities is the nominated advisor and broker to Vertu Motorsplc. Robert Forrester, CEO of Vertu Motors plc said: "Vertu believes that it is excellently placed to contribute to the on-goingconsolidation of the highly fragmented motor retail market. I would like tothank our new shareholders for their significant support at the start of ourjourney. The high level of demand for the issue and the resulting funds raisedwill enable us to work closely with our manufacturer partners on a number ofexciting acquisition opportunities." - Ends - For further information, call: Andrew Kitchingman, Brewin Dolphin Securities Tel: 0845 270 8613 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