Veteran banker Sir Angus Grossart buys £1m shares in Springfield Properties

Sir Angus Grossart

Veteran banker Sir Angus Grossart has nearly doubled his stake in Elgin-based Springfield Properties after buying £1 million of shares from its chairman Sandy Adam.

The deal gives Sir Angus, who is the current chair of investment bank Noble Grossart and lobbying firm Charlotte Street Partners, a total of 2,362,400 ordinary shares, representing 2.41% of the housebuilder.

Sir Angus is also the former vice-chair of The Royal Bank of Scotland and the Daily Record & Sunday Mail. He has also acted as financial or strategic adviser to many public and private companies and other bodies.

He bought the shares from the Adam Settlement Trust, which has also transferred 2,560,000 ordinary shares to members of Mr Adam’s family. Sandy Adam and his wife Anne now hold 40,990,120 ordinary shares, representing 41.9% of the issued share capital.

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