Brooks seven pocket £22m

All seven executive directors of wealth management firm Brooks Macdonald have taken advantage of the share price more than doubling over the past year to reduce their shareholdings.

They all sold shares at 895.5p each and raised £22.1m in total. The shares are 133% higher than one year ago.

Investment director Richard Spencer sold 70,000 shares and raised £6.27m. This takes his stake in Brooks to 8.41%.

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Chief executive Chris Macdonald and executive director Jonathan Gumpel each raised £4.48m by selling 50,000 shares. Macdonald was the largest shareholder in the company but his 9.07% stake is now just below Liontrust's 9.55% holding. Gumpel owns 7.04%.

Finance director Simon Jackson raised £3.77m from his share sale and Nicholas Lawes raised £1.88m. Nicholas Holmes generated £723,000 and Andrew Shepherd £448,000.

Earlier this week, Brooks Macdonald lifted interim profits by four-fifths helped by a 50% increase in assets under management. Revenue in the half year to June 2010 rose 61% to £35.1m, profits rose 78% to £5.7m and managed funds jumped 57% to £2.2bn.

Since June, Brooks Macdonald has completed the acquisition of fellow AIM-quoted fund manager Braemar for £4m in cash.

Top Director Buys

Medgenics (MEDG) Director name: Mr Joel E KanterAmount purchased: 3,059,192 @ 4.53p Value: £138,581

Ithaca Energy Inc. (IAE) Director name: Mr Jack C. LeeAmount purchased: 85,000 @ 109.42p Value: £93,007

Public Service Properties Investments (PSPI) Director name: Mr Richard Hugh BarnesAmount purchased: 50,000 @ 77.75p Value: £38,875

Lombard Risk Management (LRM) Director name: Mr Philip CrawfordAmount purchased: 590,000 @ 4.25p Value: £25,075

Ithaca Energy Inc. (IAE) Director name: Mr Ron Brenneman Amount purchased: 10,000 @ 112.85p Value: £11,285

Prudential (PRU) Director name: Mr Michael McLintockAmount purchased: 3,133 @ 569.30p Value: £17,836

Ithaca Energy Inc. (IAE) Director name: Mr Ron Brenneman Amount purchased: 10,000 @ 106.35p Value: £10,635

Ithaca Energy Inc. (IAE) Director name: Mr Ron Brenneman Amount purchased: 9,000 @ 114.14p Value: £10,273

Penna Consulting (PNA) Director name: Mr Richard StillwellAmount purchased: 12,500 @ 112.00p Value: £14,000

Top Director Sells

Brooks Macdonald (BRK) Director name: Mr Richard SpencerAmount sold: 70,000 @ 8,955.00p Value: £6,268,500

Brooks Macdonald (BRK) Director name: Mr Chris A MacDonaldAmount sold: 50,000 @ 8,955.00p Value: £4,477,500

Brooks Macdonald (BRK) Director name: Mr Jonathan GumpelAmount sold: 50,000 @ 8,955.00p Value: £4,477,500

Brooks Macdonald (BRK) Director name: Mr Simon JacksonAmount sold: 42,100 @ 8,955.00p Value: £3,770,055

Brooks Macdonald (BRK) Director name: Mr Nicholas Hugh LawesAmount sold: 21,000 @ 8,955.00p Value: £1,880,550

Brooks Macdonald (BRK) Director name: Mr Nicholas HolmesAmount sold: 8,071 @ 8,955.00p Value: £722,758