Brooks Macdonald co-founders ditch 385,000 shares

22nd Mar 2012 15:19

Three of the founders of Brooks Macdonald, an AIM-50 wealth management group, have sold a total of 385,000 shares for 1,275p, but insisted they remain 'fully committed' to the company. Chris Macdonald, the Chief Executive, reduced his stake by 150,000 shares, Richard Spencer by 130,000 and Jonathan Gumpel by 105,000. Christopher Knight, Chairman, said: "They have sold down their stakes for personal investment diversification reasons. The disposal has the benefit of improving liquidity in the company's shares. Retaining approximately 20.4% of the company's shares in aggregate, the directors are fully committed to the company and their interests remain wholly aligned with those of all shareholders." Following the sale the directors have entered into a lock-up agreement whereby each of them and their families will not sell or transfer any of their shares without the written consent of the company for the next two years. All three were co-founders of the company in 1991. Timothy Woolley, Chief Executive Officer of Polar Capital Holdings, an AIM-listed specialist investment management firm, sold half a million shares in the company on March 21st at 200p each. The director cashed in of the firm's soaring share price, which is up over 50% during the past year, equivalent to a 70p rise. In January the company posted net inflows of $193m during the three months to December 31st, following a series of lucrative contract wins. Speaking at the time, Woolley said he expects the ongoing uncertain macroeconomic conditions to constrain future industry fund flows in the near term. The £1m transaction takes his total holding to 6,500,000 shares, equivalent to 8.46% of the company's issued share capital. The director helped to establish Polar Capitals in 2001 and has been Chief Executive since 2009 after his predecessor resigned. Top Director BuysCapital Shopping Centres Group (CSCG) Director name: Mr John Whittaker Amount purchased: 300,000 @ 350.49p Value: £1,051,470Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 583,402 @ $0.22 Value: $128,348Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 113,500 @ $0.75 Value: $85,125Progressive Digital Media Group (PRO) Director name: Mr Mark FreebairnAmount purchased: 349,600 @ 15.65p Value: £54,712Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 100,000 @ $0.30 Value: $30,100Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 40,000 @ $0.72 Value: $28,800MirLand Development Corp. (MLD) Director name: Mr Eliezer FishmanAmount purchased: 13,794 @ 176.00p Value: £24,277HaloSource Inc. (Reg S) (HAL) Director name: Mr James ThompsonAmount purchased: 87,000 @ 23.00p Value: £20,010Edinburgh UK Tracker Trust (EUK) Director name: Mr Kevin IngramAmount purchased: 7,517 @ 266.00p Value: £19,995Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 50,000 @ $0.39 Value: $19,650Top Director SellsBrooks Macdonald Group (BRK) Director name: Mr Chris A MacDonaldAmount sold: 150,000 @ 1,275.00p Value: £1,912,500Brooks Macdonald Group (BRK) Director name: Mr Richard SpencerAmount sold: 130,000 @ 1,275.00p Value: £1,657,500Brooks Macdonald Group (BRK) Director name: Mr Jonathan GumpelAmount sold: 105,000 @ 1,275.00p Value: £1,338,750New World Resources A Shares (NWR) Director name: Mr Hans-Jörg RudloffAmount sold: 21,388 @ 454.11p Value: £97,125New World Resources A Shares (NWR) Director name: Mr Hans-Jörg RudloffAmount sold: 10,000 @ 435.22p Value: £43,522New World Resources A Shares (NWR) Director name: Mr Hans-Jörg RudloffAmount sold: 6,379 @ 453.90p Value: £28,954New World Resources A Shares (NWR) Director name: Mr Hans-Jörg RudloffAmount sold: 5,000 @ 445.12p Value: £22,256Pittards (PTD) Director name: Mr Stephen BoydAmount sold: 450,000 @ 3.50p Value: £15,750New World Resources A Shares (NWR) Director name: Mr Hans-Jörg RudloffAmount sold: 3,455 @ 444.75p Value: £15,366Imagination Technologies Group (IMG) Director name: Mr Ian PearsonAmount sold: 1,500 @ 680.00p Value: £10,200