Redde Northgate PLC has announced the purchase of 41,791 of its own ordinary shares at a weighted average purchase price of 377 pence per share. Following this transaction, the company's issued share capital consists of 246,091,423 ordinary shares, with 20,281,862 ordinary shares held in treasury. Additionally, there are 1,000,000 preference shares of 50p each which do not carry any voting rights, resulting in a total of 225,809,561 voting rights in the company.
The purchase was made in accordance with the company's buyback program and the Market Abuse Regulation. The detailed schedule of the purchase, including the number of shares purchased, transaction price, time of transaction, reference number, and venue, has been provided in the announcement.
Redde Northgate is a leading integrated mobility solutions platform providing services across the vehicle lifecycle. The company offers integrated mobility solutions across seven key areas, including vehicle rental, vehicle data, accident management, vehicle repairs, fleet management, service and maintenance, vehicle ancillary services, and vehicle sales. With a network and diversified fleet of over 120,000 owned and leased vehicles, the company supports over 600,000 managed vehicles and operates in the UK, Ireland, and Spain.
The company's core purpose is to keep its customers mobile, meeting their regular mobility needs, and 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 Group's strategic framework of Focus, Drive, and Broaden guides its mission to achieve these goals.
For further information, individuals can contact Buchanan or visit the company's website at www.reddenorthgate.com.