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Vertu joins AIM

Vertu Motors plc, the newly incorporated company seeking to acquire and consolidate UK motor retail businesses, has today been admitted to the AIM market of London Stock Exchange.

The company raised £25 million (£23.6m net of expenses) via an over-subscribed placing of 41,666,667 shares at a price of 60p per ordinary share, valuing the company at £28m.

Robert Forrester, CEO of Vertu Motors, said: “Vertu believes that it is excellently placed to contribute to the on-going consolidation of the highly fragmented motor retail market. I would like to thank our new shareholders for their significant support at the start of our journey.

"The high level of demand for the issue and the resulting funds raised will enable us to work closely with our manufacturer partners on a number of exciting acquisition opportunities.”

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