Belvoir Group Plc
It is being reported that Mike Goddard, the founder and former chairman of listed estate agency, Belvoir, is set to sell £3m of shares in the company.
He offloading a 5.7% stake in Belvoir Group, which last week said it was reinstating dividend payments after posting H1 results which saw revenues increase by 8% to almost £9.8m, and profit before tax increasing to £3.2m.
After disposal, Goddard will retain only a 0.6% stake in the company.
OnThe Market Plc
OTM announced last Friday that it has granted its Chief Financial Officer and acting Chief Executive, Clive Beattie, options over 404,762 ordinary shares of £0.002.
119,048 options vest on 1 February 2023 and the remaining 285,714 on 10 September 2023, with the latter also having a further 2 year holding period following the vesting date before exercise is possible. All the options have a nil exercise price and are subject to performance conditions based on the total shareholder return achieved by the Company relative to the FTSE Aim 100 Index in the three years until the relevant vesting date.
Comments (5)
Yes a very successful husband and wife combo
Certainly at odds with the experience that Ian Wilson the outgoing CEO of TPFG outlined in EYE in 2019
He said”that husbands and wives and other personal partners wanting to work together made the failure rate shoot up dramatically – and that such applications made his heart sink.”
What made my heart sink deepest in franchise suitability interviews were the words “My wife/husband/friend and I have always wanted to work together”.
Our failure rate in those cases shot up dramatically, and I can reel off the divorces and acrimonious splits which followed over the years. Business partners must bring different qualities to the venture, or when the going gets tough one will turn to the other and say “I don’t need you, I could do this by myself”.
The husband wife combo worked well initially at Belvoir, they even had a swap of husbands/wives in 2 franchises and the new partners worked out as well!!
The guy is a born winner .International veteran triathlete having only taken up the sport to support his son who previously had an unfortunate climbing acident in 2010
Well said Hill of Wad. What a success story indeed.
Mike was a fierce-some business man who made his dream come through, plus do not forget Stephanie Goddard played a huge part in the initial drive and growth. She deserves equal accolades.
And yes Belvoir always has been the number 1 franchise in my opinion as well. TPFG have lots to do under Samples to get close to them.
Maybe an estate agent’s equivalent to a fly past appropriate for Mike Goddard .A success story if ever there was.
Arrived into estate agency as a late career change in 1995 having used his pension as an ex RAF Wing Commander .Floated on the stock market in 2012 raising £7m some of which was cashing in a few chips to rollout more franchises .
The company then valued at £15.15m and the share price kicked off at 75p Raised further monies along the way and today the shares are currently trading 154p and the company valued at £54m .
,Not only that shareholders have enjoyed decent dividends too Now sold down his shareholding to just 0.6% incrementally without any effect on the share price.
Not many majority shareholders in llsted estate agencies can say they left pocketed a healthy amount and left hem in much better shape too with Belvoir arguably the best estate agents franchise