ZPG PLC Share Price (ZPG)

sure the asset strippers will do a fine job once in the door.

Transaction dependent company - not dependent upon house builder profits so useful diversification as long as housing market does not become 'dormant'

ZPG, owner of comparison site uSwitch, has issued a statement confirming that it has tried to do a deal with rival GoCompare � the comparison website whose TV adverts are fronted by big-moustachioed tenor Gio Compario, in reality the incomparable Wynne Evans. The bid, said to have been worth �460m, was rejected. Sir Peter Wood, chairman of GoCompare, said ZPG�s bid �was highly opportunistic and fundamentally under-values the company and its prospects�. The ZPG statement yesterday said: �ZPG Plc notes the recent press speculation regarding a potential offer for GoCompare Group plc by ZPG. �ZPG confirms that it made an approach to GoCompare on 8 November in relation to a combination of the two businesses and that the approach was rejected. �The Board of ZPG is currently considering its position. �This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any firm offer for GoCompare will be made, nor as to the terms on which any offer might be made. �In accordance with Rule 2.6(a) of the Code, ZPG is required, by no later than 5.00 pm on 12 December 2017, to either announce a firm intention to make an offer for GoCompare in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for GoCompare, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. �This deadline can only be extended with the consent of the Takeover Panel at the request of the Board of GoCompare in accordance with Rule 2.6(c) of the Code. �A further announcement will be made as and when appropriate.� uSwitch information on a property�s likely utility costs is featured on Zoopla�s property listings. http://www.propertyindustryeye.com/zpg-confirms-it-has-approached-gocompare-but-was-turned-down/

ZPG has announced that it has signed a new long-term marketing agreement with Connells, the UK�s second largest estate agency group. Last week, it announced a similar longterm deal with the UK�s largest agent, Countrywide. As part of the new agreement, Connells, which operates almost 600 estate agency and lettings agent branches across the UK, will continue to advertise all of its property listings on the ZPG platform. David Livesey, group CEO of Connells said, �We have worked closely with ZPG for a number of years and our customers benefit greatly from the marketing exposure that our relationship with ZPG generates. �We are happy to be extending this relationship as we continue to focus on serving our clients� best interests and enhancing the digital opportunities for our business.� Alex Chesterman, CEO of ZPG, said: �Connells are an important partner for ZPG and we are delighted to be extending our relationship for the long term. �There are clear opportunities for both businesses as a result of this new agreement. �We look forward to continuing to ensure that Connells� customers get the best exposure for their properties and Connells has access to the most effective services in the market.� We understand from a recent interview with Connells that litigation between it and its brand Gascoigne Halman and OnTheMarket is ongoing. OnTheMarket did not comment but yesterday referred us to Connells. http://www.propertyindustryeye.com/zoopla-signs-up-connells-group-in-new-long-term-marketing-agreement/

Zoopla has reported that its property division is trading strongly, with agents returning to it. In a short trading update, it said it was “very pleased” with current trading. It expects revenues and EBITDA to be towards the top end of expectations when it reports its full-year results on November 29. Yesterday’s statement said: “Our property division has performed strongly, driven by a continuation of returning portal partners, strong demand for our upsell products and further migration of our software partners to cloud-based products. “Our comparison division has also traded well, reaching a new milestone of over 1m household energy switches in a 12-month period and saving consumers almost £300m off their household bills over that period. “In addition, the integrations of both Hometrack and Expert Agent into the wider business have progressed well and underpin future growth opportunities.” ZPG also announced that it has conditionally agreed to acquire financial services comparison website Money.co.uk for £80m plus a performance-based earn-out of up to £60m. Established in 2008, Money allows consumers to compare thousands of deals from over 600 providers across more than 60 product categories including mortgages, loans, credit cards, bank accounts and insurance. The business has over 2m visits per month to its website. Money generated revenues of £24.7m with an adjusted EBITDA of £8m in the year to the end of last October. Money, which is based in Cirencester, Gloucestershire, employs over 50 staff, and will continue to operate as a stand-alone brand headed by founder and CEO Chris Morling. http://www.propertyindustryeye.com/were-still-getting-agents-returning-to-us-says-zoopla-as-it-announces-strong-performance/