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Banker acquisition

Grossart doubles stake in Springfield Properties

Sir Angus Grossart

Sir Angus Grossart: million pound deal (pic: Terry Murden)

Investment banker Sir Angus Grossart has more than doubled his stake in Elgin-based housebuilder Springfield Properties.

He acquired 1.058 million shares from purchased from The Adam Settlement Trust, in which Sandy Adam, executive chairman of the company, is interested. The purchase price was 94.5p per share.

This increases the interest of Sir Angus, a non-PDMR of the company, to just over 2.36m shares, representing approximately 2.41% of the issued share capital of the company.

The Adam Settlement Trust has transferred 2.56m shares to members of Mr Adam’s family. Following these transactions, Mr Adam holds 40.1m shares, representing approximately 41.9% of the issued share capital of the company.  

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