- Brooks Macdonald directors Richard Spencer and Simon Wombwell intend to sell 550,000 and 35,000 of the company's ordinary shares respectively - around 4.3% of the issued share capital.

Assuming that the placing is completed in full, Spencer and Wombwell will retain beneficial interests in 1.7% and 0.4% respectively of the issued ordinary share capital of the company.

Spencer has agreed to a lock-in arrangement in relation to the balance of his ordinary shares which will last until the first anniversary of the completion of the placing.

The placing will be conducted by means of an accelerated book build secondary placing to institutional investors.

At 8:18am: [LON:BRK] Brooks Macdonald Group PLC share price was -78p at 1739p

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