Zoopla member agents have snapped up more shares in the portals business.
Zoopla Property Group said that 87% who bought discounted shares in last year’s IPO have now opted to purchase a further 3.3m shares at the same discounted price, as part of the exclusive anniversary member offer.
Members who purchased shares last year were eligible for the anniversary offer, entitling them to purchase further shares at £1.76 per share.
Based on the take-up of the anniversary offer and the current ZPG share price, this offer represents a further £2.2m loyalty discount to ZPG members, taking the total gain on shares bought by ZPG members in both the IPO and the anniversary offer to over £5.1m.
Alex Chesterman, founder and CEO of ZPG, said: “We’re delighted that such a large number of our members took us up on the offer to buy shares last year and again this year, and those who did so have made a healthy profit.
“I am pleased that we have been able to reward our members in this way for their ongoing loyalty.”
Comments (11)
Judging by the LSE share update website, a total of 285,992 shares were sold today at a price of £1.76 per share by a certain Mr Alex Chesterman.
It appears that Mr Chesterman has paid for some of the the loyalty discount out of his own pocket.
What you gain on the swings you lose on the roundabouts!
Hilarious. Zoopla give away free money and you lot still snipe.
Just to let you know that I have given you a like for this. Well done for not bringing in the agent owned, not for profit site.
“Zoopla give away free money and you lot still snipe.”
Yeah… funny, innt.
Just let’s check a couple of things, though. Box them off, so as to speak.
This “free money” thing. Remind me – you pay Zoopla every month – yes? THEN you give them more, to buy “shares” in them for which you get what in return, exactly? Reduced fees? Extras? No. A bit of discount on the share price which, when sold, MIGHT make more money than you purchase them for.
‘Cost’ to Zoopla? – diddly squat.
‘Cost’ to the Agent? who cares – they’ve sold their souls already and Zoopla are simply coming back for the eyeballs…
I remember one of the bigger girls at school, she used to give favours away so people (boys) would like her. The more she gave away the more people (girls) disliked her.
This isn’t free money Harry, far from it. This bought in loyalty costs each and every agent in the country an average £180 per sale per 0.1% fee erosion.
How has this cost Savills £180 per branch Robert? They don’t subscribe to ZPG?!
Do you read the articles on Eye Harry? If the average sale price is £180,000 and average commission levels fall from 1.5% to 1.3% it follows £180000 x (.002/2) = £180/ sale per 0.1%
Making it possible for not valuers to value property means increased competition, that is driving down average commission levels. A fall in average commission levels affects everyone not just Zoopla customers and that is how it cost Savils, not as you said £180/ branch but an amount per sale. At the volumes and prices Savils sell at that wont be £180/ branch
hee hee, I love Alex. I do hope he gets his chance on the John Bishop Show though, to ensure people outside of the industry get a flavour of his humour. Very funny man….. up there with the very best.
Alex Chesterman said……. Zzzzzzzzzz
I blame you GPL for this rocketing share price. How many times have you been on here telling us buy buy Zoopla?!!