Redde Northgate PLC has announced that it has purchased 150,000 of its own ordinary shares to be held in treasury. The weighted average purchase price paid was 364 pence per share, with the highest purchase price at 366 pence per share and the lowest at 363 pence per share. Following this transaction, the company's issued share capital consists of 246,091,423 ordinary shares, of which 17,190,071 are held in treasury. The total number of voting rights in the company is 228,901,352.
The purchases were made by Numis Securities Limited on behalf of Redde Northgate as part of the company's buyback program. The schedule of individual transactions shows that 50,000 shares were purchased at a price of 366 pence per share and 100,000 shares were purchased at a price of 363 pence per share.
Redde Northgate is the leading integrated mobility solutions platform, offering 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, whether through meeting their regular mobility needs or by servicing and supporting them during unforeseen events. Redde Northgate aims to offer a market-leading customer proposition and drive enhanced returns for shareholders through sustainable compounding growth. The company services its customers through a network and diversified fleet of over 120,000 owned and leased vehicles, with more than 170 workshop, body shop, and rental locations across the UK, Ireland, and Spain.