Connells has cemented its takeover of Countrywide - it now has backing from over 52 per cent of shareholders.
In a statement to the London Stock Exchange, Connells told investors it had acquired the shareholding of over 1.9m Countrywide shares held by Schroder Investment Management Limited.
And the statement adds: “Therefore, Connells now owns or has received irrevocable support for the Acquisition from Countrywide Shareholders in respect of a total of 17,166,670 Countrywide Shares in aggregate, representing approximately 52.30 per cent. of the existing issued ordinary share capital of Countrywide as at 6 January 2021.”
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I wonder how long the ex Connells Directors who are now senior managers (Managing Director south etc) will last - given they were pushed out of Connells/Sequence with a nice little pay off/compromise agreement!! It’s going to be fun one thinks
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