Shareholders have backed the sale of Purplebricks to online rival Strike.
A general meeting was held this morning for shareholders to consider Strike’s offer for Purplebricks.
The sale of the business and its assets was backed by 91% of shareholder votes.
Another 85% backed the cancellation of Purplebricks’ stock market listing and its registration as a private company under the name Bricks Newco PLC.
https://www.investegate.co.uk/announcement/7557566
The update said: “Following the passing of resolutions, completion of the business and asset sale to Strike will take place today.
“The net proceeds which are available for distribution to shareholders will be distributed in due course.”
As previously announced on 17 May 2023, Helena Marston has resigned from her role as chief executive and a director of the Company with effect from today.
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delist, distribute net proceeds, is this what I think it is?
delist, distribute net proceeds, is this what I think it is?
Is it a way of writing off debts and agreeing zero payout to shareholders?
Maybe Helena Marston & Alison Platt can team up and offer MP services - with the tagline 'We guarantee to turn your listed company into a car crash in record time'.
Separate to this, though tough at the time at least Michael & Kenny when they were forced out and had to cash in, they had did so when the share price was not 0.5p - so maybe they are still the biggest winners. As now a large flank of investors will end up with shirt buttons.
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