LONDON, 21 May 2013 – Panmure Gordon & Co., a leading independent institutional stockbroker and investment bank, is pleased to advise that it has acted as joint book runner and underwriter to its client Vertu Motors plc on a placing to raise £50m.

The placing, conditional on shareholder approval, was conducted with high quality new and existing institutions.  The proceeds will be used to acquire Farnell, a Yorkshire motor vehicle dealer group, from Co-operative Group Motor Ltd for £31m.