The chief executive and the chief financial officer at Purplebricks have been awarded shares worth more than £3m.
Last Friday, CEO Vic Darvey was granted 2.5m shares while CFO Andy Botha, who joined the business in May following the resignation of James Davies, received 1.7m shares.
Purplebricks’ share price closed on Friday at 73p, valuing the share awards at £1.825m and £1.241m respectively.
In the last year the share price has been as high as 132p and as low as 23.45p. In mid 2017 it stood at nearly 500p.
In its annual results to April 2020 the company showed an operating loss of £9.4m
Comments (4)
Overheads and shares are two completely different things. Reducing costs will affect a company’s profitability and issuing share options increases the number of shares in issue. PB doesn’t pay a dividend and there isn’t a cash cost.
The gift does not appear to be linked to a future target. I expect the reaction would have been different if the shares had been linked to a target or “earned’.
Taking the Micky.
Make HQ staff redundant during a pandemic, give directors more money. [Sentence removed as it breached posting rules]
I see the ‘Prophet’ hasn’t crawled out from under his rock on this one. Maybe because its a case of lose money, meggar money, get fined over £1/4 million by HMRC in UK (not forgetting other fines abroad for group), closed down operations abroad that were failing, have LPE’s working horrendous hours, ASA warnings for misrepresentation, misrepresentation of stock to public and arguably misleading the stock exchange, share price collapse, charging consumer for failed service in an industry that offers no sale = no fee.
A great CV?
And today they give two directors shares valued over £1million each.