Redde Northgate PLC has announced the purchase of 7,500 of its own shares to be held in treasury. The weighted average purchase price paid was 386.50 pence per share. Following this transaction, the Company's issued share capital consists of 246,091,423 ordinary shares of 50p each, with 18,989,362 ordinary shares held in treasury. The total number of voting rights in the Company is 227,102,061. The purchases were made by Numis Securities Limited on behalf of the Company as part of the Company's buyback program.
Redde Northgate is the leading integrated mobility solutions platform providing services across the vehicle lifecycle. The Company offers integrated mobility solutions to businesses, fleet operators, insurers, OEMs, and other customers across seven key areas: vehicle rental, vehicle data, accident management, vehicle repairs, fleet management, service and maintenance, vehicle ancillary services, and vehicle sales. The Company's core purpose is to keep its customers mobile, whether through meeting their regular mobility needs or by servicing and supporting them when unforeseen events occur.
With its considerable scale and reach, Redde Northgate's mission is to offer a market-leading customer proposition and drive enhanced returns for shareholders by creating value through sustainable compounding growth. The Group aims to achieve this through the delivery of its strategic framework of Focus, Drive, and Broaden. Redde Northgate services its customers through a network and diversified fleet of over 120,000 owned and leased vehicles, supporting over 600,000 managed vehicles, with more than 170 workshop, body shop, and rental locations across the UK, Ireland, and Spain and a specialist team of over 6,000 automotive services professionals.