Shares in Purplebricks accelerated in price by 6% yesterday, after it announced a new issue of shares.
The price ended yesterday at 138p.
Purplebricks said that it has “recently” issued 115,041 ordinary shares, in the exercise of share options.
The announcement, to the stock exchange in London, described Purplebricks as a “world leading hybrid estate agency”.
The new share price is however still a long way down from the peak last May of 410p.
Comments (7)
Losing the best agents in the field is no way to grow a business. No rewards for long standing LPE’s, ridiculous targets – self employed? I don’t think so.
7 day a week purple robots. The only winners here are in managment on cushie salaries.
I doubt that’s going to make any of their staff any happier after they’ve just royally shafted their Local agents by stripping them of their guaranteed income if they can’t meet ridiculous new targets – leaving lots with an income of a few hundred quid for a whole month of working 7 days a week, travelling all sorts of miles, crazy hours and dealing with a whole load of problems.
Staff ?
Surely you mean self-employed LPEs ?
In which case they can make extra money by charging for viewings and progressing, and earn referral fees for recommending a good, local conveyancing solicitor or mortgage advisor !
Is there a scientific formula of how high a dead cat* can bounce?
*irrespective of colour
Doesn’t change the fact that they will have lost roughly £25m since 1st January assuming their performance hasn’t improved. Tick tock.
Show PB the love and click on their paid adverts.
They also announced that Vickerstaff one of the Bruces mates from Burchell Edwards is heading over to Germany to teach Homeday a thing or two arriving as a Vice President.
I bet they are looking foward to it! The idea of somehow shoehorning sales staff overseas who perhaps know their way around Stratford Road hasnt really worked well for Bricks .
Australia being a prime example.They have thrown the boomerang and its come back and hit them on the nose The current instructions amout to 1325 as of today. This is a signficant fall.Its going to be many years before it becomes self-propelling
Maybe Bricks rise yesterday was the pleasing performance of Winkworth.With a market valuation of just over £15m they look ripe for plucking?