Jonathan Polin, chief executive of Ashcourt Rowan Group, has bought £200,000 worth of shares in the firm.
The purchase of 200,000 £1 shares gives Polin a 0.74% stake in the firm. Other purchases include 42,000 shares bought by Kenneth West, the organisation’s chairman, and 12,000 shares by Neil Hale, chief financial officer. Jeremy Rance, chief operating officer, and Ranil Perera, non-executive director, have bought 15,000 and 5,000 shares respectively.
Last month, the firm announced that it is to raise £8.5m in cash by offering new shares in the company. The firm is also looking to make annual cost savings of £5.2m.
Other efforts to streamline the business include the merger of the wealth management subsidiary Savoy Investment Management into Ashcourt Rowan Asset Management and a reduction in headcount at the business alongside the centralisation of the business onto one operating platform.
To receive more relevant articles like this one, why not sign up to our briefings and breaking alerts by clicking here.