22nd Mar 2012 07:00
22 March 2012
Brooks Macdonald Group plc
Director / PDMR Shareholding
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Company"), the AIM-quoted integrated wealth management group, announces that on 21 March 2012, certain directors (the "Selling Directors") sold an aggregate 385,000 ordinary shares of 1p each in the Company ("Ordinary Shares"), representing a total of approximately 3.5% of the Company's shares in issue, as follows:
Selling Directors | Ordinary Shares sold | Sale price per Ordinary Share | Ordinary Shares post sale | Ordinary Shares post sale as % of issued share capital |
Chris Macdonald | 150,000 | 1275p | 808,103 | 7.45% |
Richard Spencer | 130,000 | 1275p | 758,853 | 7.00% |
Jonathan Gumpel | 105,000 | 1275p | 640,174 | 5.90% |
TOTAL | 385,000 |
The Selling Directors, respectively Chris Macdonald, Chief Executive, Richard Spencer, Director (and Chief Investment Officer of Brooks Macdonald Asset Management) and Jonathan Gumpel, Director (and an investment director of Brooks Macdonald Asset Management), were all co-founder directors of the Company in 1991.
They remain fully committed to the Company, remain substantial shareholders post-disposal (holding in aggregate a total of 20.4% of the shares in issue), and are focused on delivering further shareholder value for all shareholders. Accordingly they have entered into a lock-up agreement, further details of which are provided below.
Since the Company's IPO in March 2005, Brooks Macdonald has generated a total shareholder return to 20 March 2012 of 934% compared to the FTSE AIM All Share and FTSE Small Cap returns over the same period of -31% and 5% respectively.
Lock-up agreement
Each of the Selling Directors has undertaken to the Company that, for a period of two years from today, they will not, and will procure that their respective family members will not, without the prior written consent of the Company, sell, transfer or otherwise dispose of any of their residual shares (being the balance of their respective beneficial shareholdings following the above share sales) except in certain limited circumstances.
Christopher Knight, Chairman, commented:
"Chris, Richard and Jonathan as three co-founder directors of Brooks Macdonald 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 Selling Directors are fully committed to the Company and their interests remain wholly aligned with those of all shareholders."
Enquiries to:
Brooks Macdonald Group plc www.brooksmacdonald.com
Chris Macdonald, Chief Executive 020 7499 6424
Simon Jackson, Finance Director
Collins Stewart Europe Limited 020 7523 8350
Bruce Garrow / Sebastian Jones
MHP Communications 020 3128 8100
Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson
Related Shares:
Brooks Macdonald