Two of Purplebricks’ major shareholders, Inflection Point Investments and Momentum Global Investment Management sold all of their shares in the online estate agency yesterday, amounting to just under 12% of the business. On its current market capitalisation of £5.92m, that would equate to around £700,000.
Inflection Point Investments and Momentum Global Investment Management, which own 4.78% and 7.18% respectively, have clearly decided the time is right to abandon the struggling online estate agency, which is currently up for sale. It is not clear who acquired the shares.
Yesterday, Purplebricks announced that potential buyer, Strike, has been given an exclusive period to negotiate a purchase.
EYE NEWSFLASH: Purplebricks grants ‘short period of exclusivity’ to potential buyer
Newly appointed CEO, Helena Marston, acquired 629,000 shares in PB in August 2022 for the princely sum of £100,000 at 15.9p per share at the time.
Since she made purchase, the company is now worth 12% of the value it was worth at the time she acquired her shares. This means her investment is worth £12,000.
The business has also been driven to the edge of administration like the Titanic being driven at full throttle towards its iceberg.
Is there an award or gong for this? It’s quite an achievement in such a short space of time.
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Now this is desperation? Are creditors knocking on the door ….. foreclosure imminent!
Purplebricks announced that potential buyer, Strike, has been given an exclusive period to negotiate a purchase.
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Strike has confirmed they wont be making an offer. That won’t help.
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RNS: Today 09:18
Strike not planning to bid for Purplebricks, shares crash
(Sharecast News) – Estate agent Purplebricks tumbled again on Thursday after rival Strike said it was not planning to make an offer for the company but remains in talks about a potential purchase of the business and assets.
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Shame this is happening……I guess Strike may have to pay upfront for what left on offer and then find they get very very little in return, sounds familiar?
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