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Purplebricks shares hit record low amid offer update

Purplebricks’ share price hit a new low during trading yesterday amid its latest update on the potential sale of the beleaguered online brand.

A stock market update from the online agent said the company has progressed into a more targeted phase of detailed diligence and discussions including with rival brand Strike, which Estate Agent Today previously revealed was interested in an acquisition.

The update came at around 325pm but before that the Purplebricks share price had already dropped from an opening positon of 7.39p to a record low of 6.36p.


The shares bounced back up to 7.5p during trading and closed at 7.13p.

The share price is now down 22% so far this year and 92.5% below its listing price.

Purplebricks said in the update that it has had an extension approved to the deadline for when Strike must decide if it will make an offer.
Such announcement must now be made by not later than 5pm on 10 May 2023. 

The update said: “There can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer, if made.”

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    Ohhhhhhh such conmisery.


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