The auto-retail sector has been in an unenviable position in recent years, but none more so than Lookers, which has seen its share price more than halve since early February, helped on the way down by the announcement of a Financial Conduct Authority investigation into historical sales processes, and a profit warning.
But a number of the group’s directors are capitalising on the current turmoil to top up their holdings — or at least to signal confidence to the wider market. Finance director Mark Raban and non-executive director Stuart Counsell bought 50,000 and 216,213 shares respectively in mid-August, but their purchases pale in comparison with non-executive director Tony Bramall.
Mr Bramall bought more than 4.1m shares in July and 4.7m in August, all through Guernsey Investments, a company he controls.
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