Stagecoach chairman Sir Brian Souter has donated £109 million to charity.
Sir Brian said that following the “excellent performance” of Souter Investments, he has gifted 28% of its shares to the Souter Charitable Trust.
The trust has donated more than £98 million to 13,000 worthwhile causes over the last 13 years, supporting initiatives including Mary’s Meals, Tearfund and Chest, Heart and Stroke Scotland.
The total Souter Investments portfolio, excluding Stagecoach, increased in value by 9% per annum over the 12 years ending March 2019.
Sir Brian said: “Despite the uncertain political and economic times facing us all, our portfolio is in good shape and Souter Investments has the liquidity to continue investing through the cycle.
“I remain positive in the ability for canny investors to find value in the coming years and hopefully Souter Investments can continue to be one of those investors.
“Given the excellent performance of Souter Investments, I have today gifted 28% of its shares to the Souter Charitable Trust; I estimate that the value of this shareholding is £109 million.
“The Souter Charitable Trust has donated more than £98 million to 13,000 worthwhile causes over the last 13 years and this gift will allow it to continue this important work.”
Sir Brian co-founded Stagecoach with his sister Ann Gloag.