Changes at Yopa have been notified to Companies House.
Daniel Attia, one of the co-founders and its first CEO who then became chairman, is no longer a director.
Ian Crabb, CEO of LSL Property Services, has also ceased to be a director.
LSL did not participate in the new £16m fund-raise that EYE reported on yesterday.
The business has also significantly downgraded its original £20m investment in Yopa, to £7.8m.
A spokesperson for LSL said: “LSL has a range of investments and has chosen to allocate capital in accordance with its stated strategies.
“Whilst LSL decided not to invest in this funding round it has retained a shareholding in Yopa and continues to be a supportive shareholder.
“LSL does not have a representative on the Yopa board following the reduction in LSL’s shareholding percentage resulting from the completion of this investment round.”
Grenville Turner, former Countrywide CEO and who is now chairman of Yopa in succession to Attia, is now a director.
Comments (4)
Mention YOPA now and Dodo springs to mind.
“The business has also significantly downgraded its original £20m investment in Yopa, to £7.8m”
That’s £7.8m to write-off in this year’s LSL accounts then.
Titanic. Deckchairs.
Ian Crabb punted £20m of bank borrowing and has walked away but he is still CEO of LSL, how does that work? Do shareholders care, the share price has fallen one third over the past year.