19th Apr 2018 11:55
LONDON (Alliance News) - Estate agent Purplebricks Group PLC said the GBP125.0 million strategic investment by Axel Springer SE has been completed, with the transfer of 34.7 million Purplebrick shares, giving German publishing house an 11.5% stake.
Shares in Purplebricks were up 0.6% at 326.60 pence on Thursday.
A total 27.8 million new shares were issued under a GBP100.0 million subscription by Axel Springer, and the publishing house also purchased 6.9 million existing shares at a price of 360.0 pence per share at a total of GBP25.0 million from Chief Executive Officer Michael Bruce, Sales Director Kenny Bruce and Non-Executive Director William Whitehorn.
A total of 4.4 million shares were bought from Michael Bruce, leaving him with 33.2 million shares, reflecting a 11% interest in the company.
Another 2.3 million shares were acquired from Kenny Bruce. It was not disclosed how many shares he now holds in Purplebricks.
Finally, 225,000 shares were purchased from Whitehorn, meaning he now holds 613,269 shares, giving him a 0.2% stake in the company.
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PURP.L