Wednesday, January 09, 2008
Lookers directors snap up shares
Directors at Lookers appear confident of the dealer group’s future as they continue to hoover up shares in the company, according to the Scotland on Sunday.
This follows share values dropping by 40 per cent, which was attributed to investors reacting to a profits warning from competitor Pendragon and fears over consumer spending.
Directors including Motherwell-based Taggart Group, believe the current £200m market valuation fails to recognise Lookers' potential.Non-executive director Tony Bramall recently increased his stake with a purchase of 30,000 shares at 104p. Three other directors have also increased their holdings since the beginning of December, spending more than £100,000 between them.With the dealer group due to enter its close period for dealings ahead of final results, the purchases could affect the overall standing of the company.
DATED: 09.01.08
FEED: MT
