Polin snaps up 200,000 Ashcourt Rowan shares

Ashcourt Rowan chief executive Jonathan Polin has purchased 200,000 shares in the business as the company lists on AIM.

Polin purchased the stake, equivalent to a 0.74% holding in the firm, as part of a placing of 8.5m new ordinary shares priced at £1 per share.

Ashcourt non-exec chairman Kenneth 'Buzz' West bought 42,000 shares as part of the placing, while CFO Neil Hale now holds 34,881 shares after purchasing 12,000 through the placing.

COO Jeremy Rance and non-exec Ranil Perera bought 15,000 and 5,000 shares respectively.

The placing shares accompany the 18,364,798 ordinary shares now trading on AIM as the wealth management group seeks to expand in the run up to RDR.

Polin, former sales and marketing director at Ignis AM, said at the time of his appointment as Ashcourt Rowan CEO in August the group planned to create a "vertically integrated" asset management and financial advice group.

"As we move towards a post RDR environment, there is the real opportunity for the group to take a significant share of the market through both organic growth and strategic acquisition," he said.