Tony Bramall, already the largest shareholder in car dealer Lookers, is building up his stake in the company again.
Bramall and his family acquired a further 400,000 shares on Thursday, with 250,000 of those acquired at a cost of £170,000, or 68p per share, while the remainder cost £105,000, or 70p per share.
The purchases bring the holdings of the family interests of Bramall up to 37.6m shares, representing 20.69% of the issued share capital of Lookers.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Bramall, an industry veteran, joined Lookers' board in June 2006 after buying a 24.4% stake from GE Capital, which he used to block a bid for Lookers from Pendragon. In March 2007, he reduced that stake to 18.8% with the sale of 10m shares at 208p.
However, he has been building up his stake this year, adding about 2.35m shares even as the shares continued to slide as the market for both new and used cars became more challenging.
Bramall's latest purchase could be the cause of today's sharp rise in the share price of Lookers, which in May said it had started the financial year with a much stronger business compared to last year, though it remains cautious about growth in new car sales.
Top Director Buys
Lonmin (LMI)
Director name: Dr Sivi Gounden
Amount purchased: 6,860 @ 3,215.00p
Value: £220,549
Dolphin Capital Investors (DCI)
Director name: Mr Miltos Kambourides
Amount purchased: 200,000 @ 109.00p
Value: £218,000
Lookers (LOOK)
Director name: Mr D C A Bramall
Amount purchased: 250,000 @ 68.00p
Value: £170,000
Ridge Mining (RDG)
Director name: Mr Terence A Wilkinson
Amount purchased: 108,557 @ 119.80p
Value: £130,051
Lookers (LOOK)
Director name: Mr D C A Bramall
Amount purchased: 150,000 @ 70.00p
Value: £105,000
Quintain Estates & Development (QED)
Director name: Mr Adrian Wyatt
Amount purchased: 39,000 @ 255.00p
Value: £99,450
Mitchells & Butlers (MAB)
Director name: Mr Drummond Hall
Amount purchased: 46,064 @ 215.30p
Value: £99,176
Kopane Diamond Developments (KDD)
Director name: Mr Anthony J Williams
Amount purchased: 750,000 @ 10.00p
Value: £75,000
Eastern European Trust (EST)
Director name: Mr Neil England
Amount purchased: 15,000 @ 361.20p
Value: £54,180
Ridge Mining (RDG)
Director name: Mr Donald McAlister
Amount purchased: 41,752 @ 119.80p
Value: £50,019
Top Director Sells
C&C Group (CCR)
Director name: Mr James Muldowney
Amount sold: 75,000 @ € 4.86
Value: € 364,125
SABMiller (SAB)
Director name: Mr M I Wyman
Amount sold: 25,000 @ 1,143.00p
Value: £285,750
Mothercare (MTC)
Director name: Mr Ben Gordon
Amount sold: 17,941 @ 385.00p
Value: £69,073
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
