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This business is doomed, I can't see any sort of bounce here. The reason it won't do a CINE is because the model simply dosen't work, look at Tepilo, Doorsteps, easyproperty, emoov they've all gone.
The MMs have destroyed any chance if this bouncing
They to from 0.440 to buy 0.42p to sell. 5% spread ok can deal with it
Then it's 0.50p buy and still 0.42p to sell and ca drop to 0.40p. 20%:spread and they keep repeating this each day every day.
It's going to delist in 5 trading days so they are effectively killing any chance of a true spike. Despite this 2 million proposed payout
The one thing I would say is that the trading pattern is a bit weird....A lot of small trades going through at once. The only other time I saw that was when IBPO was delisting recently. But then IBPO wasn't in effect a cash shell wanting to close down and distribute cash to shareholders......
I’ve a feeling this is about to bounce up. No idea why but wouldn’t be suprised to see another positive twist in the saga for what is left and the listing being kept on by one of the shareholders for a RTO.
If CINE managed to come back from the dead, then I can't see why PURPLEBRICKS can't... After all CINE was in a lot worst financial position than PURPLEBRICKS
A bit of trading going on now around the 0.35 mark, but not sure if that is buys or sells....
As usual with Bricks It's unclear during the transitional period when lawyers bills will be still cranking +other expenses whether any of that will be borne by "Bricksnewco" co as this still probably falls under the heading of "transaction costs
it doesnt take long to ratchet up a 6 figure legal bill
What it does say is they will offer resoitces to oldco inclyding Doiminique the FD who will remain for the time being
Not a great start in June with instructions well down and a hefty loss in the first month to bear
Am praying for a dead cat bounce.. Its the only way I can see myself recovering some of the losses
Is it realistic to expect that the BOD need to make some sort of announcement to say what money will be left to dispense amongst share holders before it gets suspended.....or will it be after?
The price cut was at 11am . Putting that aside with or without the price haircut taking effect ,less than 70 yesterday Already down 40% from last year
What I am saying Sparty as Kwota pointed out this has little or no effect on the distribution of the leftovers for Purplebricks shareholders
The portcullis dropped on the 2nd June
Unless of course things are so bad Bricksnewco find something they can hang their hat on to roast the purchase agreement and it ius liqidated with SFA for purplebricks investors
Something the fruit machine lads might consoder spinning the wheels on the shrapnel
Again Sain
So, price cut comes out late yesterday, you expect the listings to come immediately - same day - thats what your saying.?
No they dont, there are processes to follow for newly published properties - AML - Compliance etc, Trade Misdescriptions etc.
So no, they wont be immediate - despite what you think
.
Shows what you actually know - about property.
I do. But the only value in these shares now is the potential return of £2-£5m to shareholders (what ever is left once everything is paid for). Purplebricks the actual company it was before has been sold and has nothing to do with this company anymore....
Priceless . Well done Sparty but what hast that got to do with the fee cut.? You have to laugh Iam Spartacus has hoved up here bristling with indignation Seemingly recent events have gone way over his/'her head & the sale to "Bricksnewco"
Less than 70 fresh listings yesterday despite the fee haircut revenue has diminished further.
Its going to be a long time before Charles gets his £1 back.
You do understand that the shares are still trading and will be delisted on the 15th.
You do understand that what you are referring to as Purplebricks is not this company anymore?
PB has revised its prices
Slashing 67% of London Prices
Slashing its price by 26% for the rest of the UK.
TIME TO BUY !
Simplified its offering effective immediately.
"CEO of Purplebricks, Sam Mitchell.
He said: “We are back in the game with a new value offering, returning to our roots as a major disrupting force in the industry. With the support of our new owners, we are going on the offensive again with the launch of the first element in our new strategy to recapture market share, and provide consumers with a much needed value offering in these difficult economic times.”"
If Pindar off loads does it has to be an RNS ?
Fruit machime lads must be filling their booys at 0.4p with a potential upsideof 0.6p .Meanwhile Charles Dunsione wondering when he is going to get his £1 back
But you will not receive them until earliest Dec 2023(as per RNS)
Investors will no doubt join Ken Bruce n this ringing endorsemnt of the deal wiping out shareholder value.You couydn't y make it up The man who waltzed off with enough to buy a football club with plenty of spare The lottery winner leaving the disaster area behind
"Delighted to see this period of uncertainty for the whole Purplebricks team become much clearer. Sam Mitchell, I want to wish you and your team every success for the future. I believe the brand has an incredible future, I know you and your team will work tirelessly with the good people of Purplebricks to move on to bigger and better things. Change is always a little unsettling but those who see change as an opportunity can fully benefit. Good luck everyone, this is an opportunity so go and get at, a growth cure is only round the corne"
The word 'if' here is doing some huge lifting given this company's record:
"20% - 35% profit if £2m is paid to shareholders"
Is the floor so if you can get a quote (big spread) under 0.5 then you’re lucky. Won’t be heat long.
With the swift sale confirmed and transaction costs complete, we should get confirmation of SH returns here…which may well be more than anticipated.
Will be adding more if sp drops.
20% - 35% profit if £2m is paid to shareholders
When a£1 seems too expensive
If Bricksco thought the change of ownership might spark things into action over the weekend they will be sorely disappounted.
Less than 40 fresh acc.to ZPL
Listings already down by 40% in June from 2022