Redde Northgate PLC has announced the purchase of 175,000 of its own shares to be held in treasury. The weighted average purchase price paid was 369.892857 pence per share, with the highest purchase price at 370.5 pence per share and the lowest at 369.75 pence per share. Following this transaction, the Company's issued share capital consists of 246,091,423 ordinary shares of 50p each, with 20,781,862 ordinary shares held in treasury and 1,000,000 preference shares of 50p each which do not carry any voting rights. The total number of voting rights in the Company is 225,309,561.
The purchases were made by Numis Securities Limited on behalf of the Company as part of the Company's buyback program. The detailed schedule of individual transactions, including the number of shares purchased, transaction prices, time of transaction, reference numbers, and venues, was provided in the announcement.
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.
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. The Group aims to achieve sustainable compounding growth and enhanced returns for shareholders by creating value through its strategic framework of Focus, Drive, and Broaden.
For further information, contact Buchanan at +44 (0) 207 466 5000 or visit the Company's website at www.reddenorthgate.com.