Wednesday, March 18, 2015
Lookers director Bramall sells 10 million shares for £15.5m
Tony Bramall, a non-executive director at Lookers, has sold 10 million shares in the company for £15.5m.
The shares were sold by one of the companies represented by the family which still retains 16.15% of Lookers’ existing issued share capital.
Lookers issued a statement saying that it continued to have the backing of the Bramall family.
“The company has been informed that the sale does not alter the continuing support for Lookers by the Bramall family who believe that the company will continue the excellent growth it has shown over the past few years.”
Bramall, a non-executive director at Lookers since 2006, has an exceptional record as a car dealer building up and selling three highly successful and profitable dealer groups in the UK.
In 1967 he became MD of family firm Hamilton and Bramall, built up the company, floated and renamed it as CD Bramall and sold it to Avis for £97m in 1987.
Three years later he bought Sanderson Murray and Elder, and built that up until it was sold to Pendragon in 2004 for £230m.
He also launched Bramall & Jones. Its VW dealerships were sold to Lookers and its Audi dealerships to JCT600 for undisclosed sums.
DATED: 18.03.15
FEED: MT
