10th Aug 2005 09:40
10 August 2005 RIGHTMOVE.CO.UK APPOINTS ADVISERS Following the recent appointment of Scott Forbes as Chairman of Rightmove.co.ukthe Board is pleased to announce they have engaged UBS Investment Bank asfinancial advisers, Slaughter and May as legal advisers and KPMG as reportingaccountants. They will be working closely with Rightmove to review theprospects for a possible flotation of the company.Rightmove.co.uk is the UK's number one property website displaying details ofhomes for sale or rent to the largest online audience. It currently hasapproaching 60 per cent of all estate agents advertising on its site and at anytime displays a stock of around two-thirds of a million properties worth inexcess of ‚£135 billion. Rightmove is the clear market leader in the UK, withmore website traffic than all of its competitors combined.Commenting on the announcement Chairman Scott Forbes said:"The appointment of a leading team of advisers is the next step in looking atopportunities and timescales for a potential IPO of Rightmove. Havingestablished itself as the market leader with a successful business model, andwith the introduction of Home Information Packs in 2007, there are someexciting times ahead. The Board are very much looking forward to workingtogether with their newly appointed team of advisers." END The Maitland Consultancy 020 7379 5151Fiona PiperNotes to editors:Rightmove.co.uk is the UK's number one property website displaying details ofhomes for sale or rent to the largest online audience - Rightmove is the clearmarket leader in the UK, with more website traffic than all of its competitorscombined.It currently has approaching 60 per cent of all UK estate agents and at anytime displays a stock of around two-thirds of a million properties worth inexcess of ‚£135 billion.All eight corporate estate agents (those with 100 or more branches) listproperties on the site, six listing all their property stock.The Rightmove site receives between around 7 and 10 million visits each monthgenerating around 180 million pages, placing Rightmove in the top 20 of all UKinternet sites in terms of page impressions.Rightmove is jointly owned by Countrywide Plc, HBOS, Connells and R&SA.ENDCOUNTRYWIDE PLCRelated Shares:
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