Two non-executive directors of BCA Marketplace (BCA), Mark Brangstrup Watts and James Corsellis, were beneficially entitled to around 11.5m shares snapped up by funds managed by Marwyn Asset Management (MAML) midway through May. The total outlay for the acquisitions came in at £23.7m, which brought MAML's total interest to 29.9m shares, or 3.84 per cent of BCA's issued share capital.
At the start of last month, BCA revealed that it had been trading at the upper end of market expectations, buoyed by new contract wins and high rates of repeat business. With business confidence on the rise, BCA, which maintains Europe's largest used-vehicle marketplace, recently appointed advisers to work on the planned transition to the premium segment of the official list.