On October 13, 2023, Redde Northgate PLC announced that it had purchased 100,000 of its own ordinary shares to be held in treasury. The weighted average purchase price paid was 318.075 pence per share, with the highest purchase price at 318.25 pence per share and the lowest at 317 pence per share. Following this transaction, the company's issued share capital consists of 246,091,423 ordinary shares, of which 16,040,071 are held in treasury. The total number of voting rights in the company is 230,051,352.
The purchases were made by Numis Securities Limited on behalf of Redde Northgate as part of the company's buyback program. The detailed information about the individual transactions can be found in the schedule provided in the announcement.
Redde Northgate is the leading integrated mobility solutions platform that offers services across the vehicle lifecycle. The company provides integrated mobility solutions to businesses, fleet operators, insurers, OEMs, and other customers in areas such as 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 and provide support in unforeseen events. Redde Northgate aims to offer a market-leading customer proposition and drive enhanced returns for shareholders through sustainable compounding growth. The company has a network and diversified fleet of over 120,000 owned and leased vehicles, supporting over 600,000 managed vehicles, with locations across the UK, Ireland, and Spain. Redde Northgate has a team of over 6,000 automotive services professionals.