Bramall, who is also a Lookers board member, will get £28m from the sale. He made it clear he would not be selling more Lookers shares in the 'foreseeable future'.
He said: "My family interests have made this disposal for portfolio management and personal reasons and in the light of institutional demand following the recent excellent results. It is not intended to make further disposals of shares for the foreseeable future."
Bramall and his family still have 33,835,710 shares in Lookers, representing 18.8% of the company’s share capital.