Purplebricks Group Plc (PURP) Purplebricks Group Plc: Directorate change 07-March-2023 / 07:00 GMT/BST Purplebricks Group plc (“Purplebricks” or the “Company”) Directorate change Purplebricks Group plc (AIM: PURP), the UK’s leading tech-led estate agency business announces an update with regards to its Axel Springer Board representative, Ait Voncke. Ait was appointed to the board as a representative of Axel Springer SE ('Axel Springer'), a 26.5% shareholder in the Company, in July 2022. Following commencement of the strategic review announced by the Company o...
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Purple Bricks Group plc 02-March-2023 / 12:35 GMT/BST FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle com...
Purplebricks Group Plc (PURP) Purplebricks Group Plc: Strategic Review Update – Launch of Formal Sale Process under the Takeover Code 01-March-2023 / 07:00 GMT/BST NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "TAKEOVER CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION BY ANY PARTY TO MAKE AN OFFER UNDER RULE 2.7 OF THE TAKEOVER CODE. THERE CAN BE NO CER...
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Purple Bricks Group PLC 27-Feb-2023 / 10:21 GMT/BST FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle compa...
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Purple Bricks Group plc - Replacement Disclosure 20-Feb-2023 / 15:38 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 REPLACEMENT DISCLOSURE: Amendment to the Public Opening Position disclosure issued on 17 February 2023 at 14:40. The following fields have changed from the original announcement: 1(e), 2(a) and 3(a). All other information remains unchanged. PUBLIC OP...
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Form 8.3 - OPD - Purple Bricks Group PLC 17-Feb-2023 / 14:39 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equ...
Purplebricks Group Plc (PURP) Purplebricks Group Plc: Trading update and Launch of Strategic Review 17-Feb-2023 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT SUCH AN OFFER ...
Diversification gathering pace Purplebricks interims to October show progress in its plan to return to operational cash generation in early FY24. Highlights of 1H23 include: • 21.2k instructions: flat on 1H22 instructions of 21.1k • £34.4m total fee income: down 1% on 1H22 of £34.7m • £34.5m IFRS revenue: down 16% on 1H22 of £41.3m flattered by accounting • 47.0% gross profit margin (1H22: 63.4%), reflecting increase in fixed costs following the transition to employed model in September 2021 • £...
In this episode, Nick Searle speaks to Helena Marston, CEO of Purplebricks. Helena joined Purplebricks in May 2020 as Chief People Officer and took on the role of Chief Operating Officer at the end of 2021 before becoming Chief Executive Officer in April 2022.
A director at Purplebricks Group bought 1,537,000 shares at 17p and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
In this audio note, Zeus’ Robin Savage summarises the investment case for Purplebricks. Purplebricks full year results provides the detail behind its May pre-close update (i.e. 40,141 instructions; £70m revenue; £8.8m EBITDA loss and £43.2m cash) and details Purplebricks’ plan to return to operational cash generation. Listen to the audio note, and read the full research here: /zeus-research-portal/#/portal/zeus-capital/research/332b2124-ed8e-451a-a0dc-2f500e67a6dd
What’s new: Following its November trading updates (n.b. fall in instructions, circa £58m net cash and need for a provision for claims relating to its lettings business), Purplebricks has released its interim results to 31 October, which reveal: 7% fall in revenues to £41.3m - 29% fall in total fee income to £34.7m - 38% fall in number of instructions to 21,131 - 15% rise in average revenue per instruction to £1,642 11% fall in gross profit to £26.2m 360 basis point fall in gross profit ma...
What’s new: Purplebricks Preclose update observes: - 23% fall in new instructions coming to market 1H22 on 1H21 - Enhanced digital capabilities in new CRM system - 1H instructions of c. 22,000 (1H21: 35,387). - C. £58m net cash as at 31 October 2021: to stabilise in 2H to April 2022 Strategic transformation and momentum: after “introducing new pricing and a simplified proposition alongside a new operating model …[with] … over 95% of Purplebricks’ new sales team [are] in position [resulting...
What’s new: Purplebricks is moving its field sales agents to a fully employed status (Area Directors are responsible for specific postcodes, Local Property Partners responsible for carrying out valuations, and Local Property Agents responsible for administration).
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
What’s new: Purplebricks’ “Money back guarantee” will be the focus of market attention: its full year results are suitably ahead of its pre-close update in May: 22% rise in total fee income to £87.1m (c. 1% above Zeus est: £86.4m) 13% rise in IFRS15 revenue to £90.9m (c. 2% above Zeus est: £88.7m) - 14% rise in instructions to 58,043 (FY20: 50,948); - Purplebricks’ market share at 4.6% (FY20: 5.1%) based on TwentyCi estimate of sales by volume; - 7% rise in average revenue per instruct...
What’s new: Pre-close update reveals Purplebricks has traded ahead of Zeus expectations for the year to 30 April 2021: - 60,238 instructions (12% ahead of FY20; 7% ahead of Zeus forecast of 56,200; 9% ahead of consensus expectation of 55,100 as set out on /investors/analyst-and-consensus/ ) - Full year adj EBITDA will be in line with current consensus of £11.8m (previous guidance was in excess of £11m; Zeus forecast £11m) despite deciding to repay £1m CJRS received in 1H - £74m cash balance on 3...
UK Budget is stimulating the residential property market: Stamp Duty holiday extended to 30 June; Government support to high loan-to-value mortgages. Increase in activity benefits all agents and Purplebricks in particular. Purplebricks is arguably the largest UK Estate Agency brand and the best-known UK hybrid estate agent: with 98% brand awareness, circa 35% brand consideration and circa 5% market share of residential house sales. Investors will better understand Purplebricks in July, when it ...
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