2 June 2023
Purplebricks Group plc
("Purplebricks" or the "Company")
Result of General Meeting
Purplebricks announces that, at the General Meeting held earlier today ("GM"), all resolutions put forward to the Company's shareholders were duly passed.
The final voting position is shown below for each of the resolutions proposed (inclusive of proxy votes cast prior to and at the general meeting). The full text of the resolutions is contained in the Notice of General Meeting published on 17 May 2023, which is available on the Company's website at www.purplebricksplc.com.
| Resolution | FOR (*) | %age FOR | AGAINST | %age AGAINST | Total Votes Cast (excluding Withheld) | Withheld |
| 1. Sale by the Company of its trading business and assets | 139,984,141 | 91.15% | 13,586,716 | 8.85% | 153,570,857 | 59,924 |
| 2. The cancellation of the admission to trading on AIM | 130,973,052 | 85.29% | 22,583,978 | 14.71% | 153,557,030 | 73,751 |
| 3. The registered name of the Company be changed to Bricks Newco PLC | 131,039,991 | 85.33% | 22,526,716 | 14.67% | 153,566,707 | 64,074 |
| 4. The Company be re-registered as a private limited company | 130,981,037 | 85.30% | 22,575,993 | 14.70% | 153,557,030 | 73,751 |
(*) includes discretionary votes.
Completion of Business and Asset Sale to Strike Bidco Limited ("Strike")
Following the passing of resolutions at the GM, completion of the business and asset sale to Strike (further details of which were set out in the circular posted to shareholders on 17 May 2023 (the "Circular") will take place today. The net proceeds which are available for distribution to shareholders will be distributed in due course as further explained in the Circular.
AIM Cancellation
As a consequence of the above, admission of the Company's ordinary shares of 1 pence each ("Ordinary Shares") to trading on AIM will be cancelled (the "Cancellation").
The final day of trading on AIM of the Ordinary Shares will be 15 June 2023 and the Cancellation is expected to take place at 7:00 a.m. on 16 June 2023.
Change of Name
The Company's name will be changed to "Bricks Newco plc", the change is expected to be made effective prior to the Cancellation.
Board Resignation
As previously announced on 17 May 2023, Helena Marston has resigned from her role as CEO and a director of the Company with effect from today.
Further announcements will be made in due course.
| Enquiries | |
| Purplebricks | |
| Dominique Highfield (CFO) | Via M7 Communications Ltd |
| | |
| Zeus (Financial Adviser, Nominated Adviser and Broker) | |
| Jamie Peel, James Hornigold (Investment Banking) | + 44 (0)20 3829 5000 |
| Ben Robertson (Corporate Broking) | |
| | |
| PricewaterhouseCoopers LLP (Financial Adviser) | +44 (0) 20 7583 5000 |
| Jon Raggett | |
| M7 Communications |
|
| Mark Reed | + 44 (0) 7903 089 543 mark@m7communications.co.uk |
About Purplebricks
Purplebricks is a leading technology-led estate agency business, based in the UK. Purplebricks combines highly experienced and professional Local Property Partners and innovative technology to help make the process of selling, buying or letting more convenient, transparent and cost effective. Purplebricks shares are traded on the London Stock Exchange AIM market.
Notice related to financial adviser
Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority ("FCA") in the United Kingdom, is acting exclusively for Purplebricks and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Purplebricks for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.
PricewaterhouseCoopers LLP is authorised and regulated in the United Kingdom by the FCA and is acting exclusively for the Purplebricks and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Purplebricks for providing the protections afforded to its clients nor for providing advice in relation to the subject matter of this announcement.
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