Brooks Macdonald co-founders ditch 385,000 shares

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."

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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.

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Capital Shopping Centres Group (CSCG)

Director name: Mr John Whittaker

Amount purchased: 300,000 @ 350.49p

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Director name: Mr Eliezer Fishman

Amount purchased: 13,794 @ 176.00p

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HaloSource Inc. (Reg S) (HAL)

Director name: Mr James Thompson

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Director name: Mr Kevin Ingram

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Top Director Sells

Brooks Macdonald Group (BRK)

Director name: Mr Chris A MacDonald

Amount sold: 150,000 @ 1,275.00p

Value: £1,912,500

Brooks Macdonald Group (BRK)

Director name: Mr Richard Spencer

Amount sold: 130,000 @ 1,275.00p

Value: £1,657,500

Brooks Macdonald Group (BRK)

Director name: Mr Jonathan Gumpel

Amount sold: 105,000 @ 1,275.00p

Value: £1,338,750

New World Resources A Shares (NWR)

Director name: Mr Hans-Jrg Rudloff

Amount sold: 21,388 @ 454.11p

Value: £97,125

New World Resources A Shares (NWR)

Director name: Mr Hans-Jrg Rudloff

Amount sold: 10,000 @ 435.22p

Value: £43,522

New World Resources A Shares (NWR)

Director name: Mr Hans-Jrg Rudloff

Amount sold: 6,379 @ 453.90p

Value: £28,954

New World Resources A Shares (NWR)

Director name: Mr Hans-Jrg Rudloff

Amount sold: 5,000 @ 445.12p

Value: £22,256

Pittards (PTD)

Director name: Mr Stephen Boyd

Amount sold: 450,000 @ 3.50p

Value: £15,750

New World Resources A Shares (NWR)

Director name: Mr Hans-Jrg Rudloff

Amount sold: 3,455 @ 444.75p

Value: £15,366

Imagination Technologies Group (IMG)

Director name: Mr Ian Pearson

Amount sold: 1,500 @ 680.00p

Value: £10,200