Hargreaves Lansdown founder raises £58m from share sale

Hargreaves Lansdown founder Stephen Lansdown has sold nearly 3% of the company. Lansdown sold 13.56m shares at 429p each, which raised £58.18m. That leaves Lansdown with 20.1% of the financial adviser. Wealth management firm Hargreaves Lansdown reported a record year to June 2010 despite tough market conditions. Profit before tax jumped to £86.3m, up from £73.1m 12 months ago, on revenue 20% higher at £159m. Total assets under administration rose 47% to £17.5bn.The final dividend of 0.58p a share took the total payout for the year to 8.58p a share, but a special dividend of 1.7p a share lifted the overall dividend for the period by 18% to 11.88p a share.The dividend was paid on 29 September so Lansdown banked this income before selling the shares. Top Director BuysRenewable Energy Holdings (REH) Director name: Mr Michael Joseph ProffittAmount purchased: 730,000 @ 19.00p Value: £138,700Close Brothers Group (CBG) Director name: Mr Jonathan HowellAmount purchased: 19,626 @ 535.00p Value: £104,999ContentFilm (CFL) Director name: Mr Kerry McCluggageAmount purchased: 7,000,000 @ 1.00p Value: £70,000China Food (CFC) Director name: Mr John McLeanAmount purchased: 50,000 @ 39.00p Value: £19,500China Food (CFC) Director name: Mr John McLeanAmount purchased: 30,000 @ 38.00p Value: £11,400Fairpoint Group (FRP) Director name: Mr Christopher MoatAmount purchased: 16,667 @ 60.00p Value: £10,000Top Director SellsHargreaves Lansdown (HL.) Director name: Mr Stephen P LansdownAmount sold: 13,560,843 @ 429.00p Value: £58,176,016IdaTech (IDA) Director name: Mr James CookeAmount sold: 42,997 @ 60.00p Value: £25,798Nordic Land (NLD) Director name: Mr Ray HorneyAmount sold: 120,000 @ 20.75p Value: £24,900IdaTech (IDA) Director name: Mr Harol KoyamaAmount sold: 30,958 @ 60.00p Value: £18,575