Grossart spends £1m to double stake in Springfield

Angus Grossart

Elgin-based Springfield Properties said on Monday that veteran Scottish investment banker Angus Grossart has spent £1 million to roughly double his shareholding in the firm.

Springfield Properties is building a number of new towns and villages throughout Scotland.

“Springfield Properties … announces that Sir Angus Grossart QC, a prominent Scottish businessman, has purchased from The Adam Settlement Trust, a trust in which Mr Sandy Adam (executive chairman of the company) is interested, 1,058,202 ordinary shares of 0.125 pence each in the capital of the company at a price of 94.5 pence per ordinary share, for a total purchase price of £1 million,” said Springfield Properties in a stock exchange statement.

“This increases the interest of Sir Angus Grossart, a non-PDMR of the company, to 2,362,400 Ordinary Shares, representing approximately 2.41% of the issued share capital of the company.

“In addition, The Adam Settlement Trust has transferred 2,560,000 ordinary shares to members of Mr Adam’s family.

“Following these transactions, Mr Adam holds 40,990,120 ordinary shares, representing approximately 41.9% of the issued share capital of the company.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.