Brooks seven pocket £2.2m

24th Sep 2010 17:02

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 £2.21m in total. The shares are 133% higher than one year ago. Investment director Richard Spencer sold 70,000 shares and raised £627,000. This takes his stake in Brooks to 8.41%.Chief executive Chris Macdonald and executive director Jonathan Gumpel each raised £448,000 by selling 50,000 shares. Macdonald was the largest shareholder but his 9.07% stake is just below Liontrust's 9.55% stake. Gumpel owns 7.04%. Finance director Simon Jackson raised £377,000 from his share sale and Nicholas Lawes raised £188,000. Nicholas Holmes generated £72,000 and Andrew Shepherd £45,000. 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 rose 61% to £35.1m, profits rose 78% to £5.7m and managed funds jumped 57% to £2.2bn.Since June, Brooks Macdonald has bought fellow AIM-quoted fund manager Braemar for £4m in cash. Top Director BuysMedgenics (MEDG) Director name: Mr Joel E KanterAmount purchased: 3,059,192 @ 4.53p Value: £138,581Ithaca Energy Inc. (IAE) Director name: Mr Jack C. LeeAmount purchased: 85,000 @ 109.42p Value: £93,007Public Service Properties Investments (PSPI) Director name: Mr Richard Hugh BarnesAmount purchased: 50,000 @ 77.75p Value: £38,875Lombard Risk Management (LRM) Director name: Mr Philip CrawfordAmount purchased: 590,000 @ 4.25p Value: £25,075Ithaca Energy Inc. (IAE) Director name: Mr Ron Brenneman Amount purchased: 10,000 @ 112.85p Value: £11,285Prudential (PRU) Director name: Mr Michael McLintockAmount purchased: 3,133 @ 569.30p Value: £17,836Ithaca Energy Inc. (IAE) Director name: Mr Ron Brenneman Amount purchased: 10,000 @ 106.35p Value: £10,635Ithaca Energy Inc. (IAE) Director name: Mr Ron Brenneman Amount purchased: 9,000 @ 114.14p Value: £10,273Penna Consulting (PNA) Director name: Mr Richard StillwellAmount purchased: 12,500 @ 112.00p Value: £14,000Top Director SellsBrooks Macdonald (BRK) Director name: Mr Richard SpencerAmount sold: 70,000 @ 895.50p Value: £626,850Brooks Macdonald (BRK) Director name: Mr Chris A MacDonaldAmount sold: 50,000 @ 895.50p Value: £447,750Brooks Macdonald (BRK) Director name: Mr Jonathan GumpelAmount sold: 50,000 @ 895.50p Value: £447,750Brooks Macdonald (BRK) Director name: Mr Simon JacksonAmount sold: 42,100 @ 895.50p Value: £377,006Brooks Macdonald (BRK) Director name: Mr Nicholas Hugh LawesAmount sold: 21,000 @ 895.50p Value: £188,055Brooks Macdonald (BRK) Director name: Mr Nicholas HolmesAmount sold: 8,071 @ 895.50p Value: £72,276Brooks Macdonald (BRK) Director name: Mr Andrew William ShepherdAmount sold: 5,000 @ 895.50p Value: £44,775