Brian Souter and his sister Ann Gloag, the founders of bus and train operator
become the latest to reap millions of pounds by transferring or selling their
shares ahead of the changes to capital gains tax this weekend.
The pair are transferring 33m Stagecoach shares into two discretionary trusts
– of which they and family members are the beneficiaries. Gloag is also selling
500,000 Stagecoach shares in a trust in the name of David McLeary, her husband,
the Financial Times reports.
The shares which represent a 4.7% stake in Stagecoach and one-fifth of the
siblings’ combined shareholding, are worth about £82.4m at current market
The Stagecoach founders followed the lead of Lord Sainsbury, Sir Ken Morrison
and Clara Furse of the London Stock Exchange in the past few days. Others who
sold or transferred shares yesterday included directors at
Ted Baker and Jane
Palmer, wife of Andrew Palmer, Legal
& General finance director.
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