Wednesday, March 28, 2007
Vertu on road to expansion with Bristol Street
VERTU MOTORS has formally completed the acquisition of Bristol Street Group.
Shareholders at yesterday's extraordinary general meeting gave Vertu the go ahead for the acquisition and the placing of £26.2m of its ordinary shares and the re-admission of the entire issued share capital of Vertu to trading on AIM.
"We are delighted to have completed the acquisition of Bristol Street Motors, Paul Williams and his team have worked tirelessly to bring this transaction to fruition and it is my pleasure to welcome them into the Vertu Motors fold," said CEO, Robert Forrester.
"The completion of this transaction is the first step in the delivery of our strategy as set out at the time of our IPO and provides us with the perfect platform from which we can take advantage of consolidation opportunities in the UK motor retail market."
DATED: 28.03.07
FEED: AW
Shareholders at yesterday's extraordinary general meeting gave Vertu the go ahead for the acquisition and the placing of £26.2m of its ordinary shares and the re-admission of the entire issued share capital of Vertu to trading on AIM.
"We are delighted to have completed the acquisition of Bristol Street Motors, Paul Williams and his team have worked tirelessly to bring this transaction to fruition and it is my pleasure to welcome them into the Vertu Motors fold," said CEO, Robert Forrester.
"The completion of this transaction is the first step in the delivery of our strategy as set out at the time of our IPO and provides us with the perfect platform from which we can take advantage of consolidation opportunities in the UK motor retail market."
DATED: 28.03.07
FEED: AW
