Today, Purplebricks is due to hold its AGM.
Shareholders are being encouraged to vote down executive pay awards, which investment advisory firm ISIS claims are being paid despite meeting no performance hurdles.
However, it is understood that Purplebricks does not consider its executives to be that well paid.
Shareholders themselves may concentrate on the performance of the actual shares – which closed yesterday at about 109p, down from a peak of almost 500p in July 2017.
Comments (12)
RNS is on the LSE website.
Looks like all motions passed.
(There’s an “OOOOHHHH ERRRRRRR, MATRON!” teed up there if you feel up to it, smile please… ;o) )
Any key notes from the AGM ?
In this instance, does AGM stand for “Absolutely Garbage Management”?
No doubt we shall be kept entertained for the next week.
“Kirk to Enterprise”
”Enterprise Captain”
”Beam them up Scotty”
Time for Purplebricks to go and explore strange new worlds, to boldly go where others haven’t gone before. Their time on Planet Earth is up.
AGM today, whole of company meeting tomorrow, redundancies Monday.
My RD told me last week that they are going to reduce the number of TOs massively over the next couple of months, they feel that there are some earning good money for doing nothing.
‘there are some earning good money for doing nothing.’
That’s the entire point of being a payanyway agent, isn’t it?
Bravo.
As an industry we still need to do more.
Rightmove , properrtymark etc are watching agents close their doors and doing nothing about the pay any way crime of paying upfront.
Genuine question, what would you like to see them do?
Advertise on tv to protect public and defend agents who actually provide a service.
Rightmove should simply ban them from site as they should new home sellers.
More regulation required .
Many many things.
Ok so:
1) How would that work exactly, a trade body the public have never heard extolling the virtues of traditional agents but not actually promoting a brand and probably costing more than the annual turnover of Propertymark for no tangible return on investment?
2) Why would Rightmove do that when they are there to make shareholder value by creating profit, they are not there to serve the interests of agents that has been made very clear by there actions.
3) Regulation of what if a vendor chooses to pay upfront and risk losing out that is exactly that their choice. Consumers like choice.