Lookers boss adds to stake

Mar 19, 2010

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Peter Jones, the chief executive of motor dealer Lookers, has added to his stake in the company.

He has bought 300,000 shares at 59p each. Jones now owns 2.281m shares in Lookers, which is equivalent to 0.59% of the company.

Jones bought 1.42m shares at 40p each in the company's placing and open offer than raised £80.7m gross last July. This means he has invested just over £736,000 in Lookers shares in the past year.

Jones became chief executive of Lookers at the end of September 2009. he was previously chief executive of CB Bramall.

Adjusted profit before tax for the year ended 31 December 2009 increased by 102% to £28.3m. Revenue on a like for like basis increased by 4.2% to £1.75bn.

Jones said, "Although we believe that market conditions will remain challenging in 2010, we are encouraged to report that we have made a strong start to the year."

Top Director Buys

Lookers (LOOK) Director name: Mr Peter Jones Amount purchased: 300,000 @ 59.00p Value: £177,000

Standard Life (SL.) Director name: Mr David Grigson Amount purchased: 13,335 @ 208.72p Value: £27,833

Top Director Sells

Xstrata (XTA) Director name: Mr Michael Davis Amount sold: 465,388 @ 1,165.90p Value: £5,425,959

Barclays (BARC) Director name: Mr Robert E Diamond Jr Amount sold: 792,576 @ 347.90p Value: £2,757,372

Barclays (BARC) Director name: Mr Robert E Diamond Jr Amount sold: 371,079 @ 347.90p Value: £1,290,984

Close Brothers Group (CBG) Director name: Mr Stephen R Hodges Amount sold: 99,896 @ 775.80p Value: £774,993

Pearson (PSON) Director name: Mr Will Ethridge Amount sold: 44,040 @ 997.50p Value: £439,299

Barclays (BARC) Director name: Mr John S Varley Amount sold: 115,120 @ 347.90p Value: £400,502

Discovery Metals (CDI) (DME) Director name: Mr Jeremy Read Amount sold: 390,975 @ 44.96p Value: £175,782

Barclays (BARC) Director name: Mr John S Varley Amount sold: 82,984 @ 347.90p Value: £288,701

Barclays (BARC) Director name: Mr Chris Lucas Amount sold: 58,302 @ 347.90p Value: £202,833

Barclays (BARC) Director name: Mr John S Varley Amount sold: 49,064 @ 347.90p Value: £170,694

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