Purplebricks Group PLC - Solihull, England-based online estate agent - Votes against Lecram Holdings Ltd's resolutions to remove Paul Pindar as chair and appoint Harry Hill to the board of directors. Shareholders vote 72% against removing Pindar as chair, compared to 28% for removing him. Shareholders vote 58% against appointing Hill as a company director, compared to 42% for appointing him. Directors recognise that, while both resolutions were rejected, a significant proportion voted in favour of them. Says will continue to engage with shareholders to ensure full alignment on strategy, objectives and delivery.
"Our past performance has not been good enough. But we have a new team, with an agreed plan that is being delivered at pace. The operational changes implemented over the last four months will be clear for all to see at our final results, in terms of a substantially improved cash and profit performance," says Chief Executive Officer Helena Marston.
"The housing market will be what it will be in 2023 but we have a value driven customer proposition, right-sized our cost base by GBP17 million, and laid the foundations for a more balanced business with the recent launch of new revenue streams and a plan to grow our lettings business. There is a big opportunity for Purplebricks, and we want the opportunity to deliver it."
Current stock price: 9.33 pence, down 2.3% on Monday.
12-month change: down 61%
By Greg Rosenvinge, Alliance News reporter
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