Purplebricks Share Discussion Threads

[kreature] 25/11/2022 12:47

I’d expect the significant holders will buy more cos that looks like the general idea here to me. ie own more and more of the company as the share price plummets. Then Maybe benefit from continual dividends at a later date ? And without any unwashed minority shareholders ?

[kreature] 25/11/2022 11:49

……you sure you’re not the legendary HH tho ?
We looking at 5p now? Where’s this going ?
Is this a ‘squeeze out’ of minority shareholders?

[hillofwad] 25/11/2022 08:51

Lacklustre effort by Lecram in trying to stimulate a shareholder revolt with just 5% of the shares . You would have thought they would have accumulated over 10% with the share price languishing
Punching well above their weight
Maybe take their guidance on how Robin Paterson went about Countrywide and Foxtons

No mention of whether they have secured the crucial support of JNE & Momentum who hold over 17% of the shares

Furthermore their letter to shareholders is lacking an in depth analysis or setting out strategies policy changes to accumulate more market share or improve revenue streams.

The best they can offer is recycling HH. No disrespect to him with his enviable track record and a steady hand on the rudder but they need a new team

You have to wonder what actually is Lecram's game plan ?

[kreature] 25/11/2022 05:03

But anyway, my best guess is that this is a squeeze-out of minority shareholders

[kreature] 25/11/2022 04:59

News - they should change to a pay-per-week model imo. I don’t need no sale no fee (something for nothing) if the fee is reasonable. I think paying per week to sell a house would encourage owners not to overvalue.

hxxps://www.estateagenttoday.co.uk/breaking-news/2022/11/purplebricks-too-focused-on-brand-over-customer-experience--claim?source=newsticker

[exotic] 24/11/2022 12:44

NOVEMBER 23, 2022 | MARC DA SILVA

Activist investor gets wish as Purplebricks confirms date of General Meeting to oust chairman




Unfortunately Purplebricks uploaded the letter in a format I cannot copy and paste from:


After reading the letter and looking at the share price chart, declining in a buoyant housing market, I recommend voting for the resolution to remove Paul Pindar and appoint Harry Douglas Hill, the former Chairman of Countrywide and Rightmove.

[kreature] 24/11/2022 11:26

Can I just ask, who was shorting this from £5 ?
All trades should be traceable openly in public to the source in my opinion.
(Apart from mine of course)

[kreature] 24/11/2022 11:14

'We question the motive for Axel Springer, which has had board representation for a number of years and has, by its own admission, significantly written off its near £200m investment, is giving this undertaking.'

yeah, this makes no sense to me either. If I were 200m down, I'd at least want a change of leadership, (and a 30 day refund)

[jh27] 24/11/2022 10:30

All the EGM info is on www.lecramholdings.com.

Interesting reading.

[kreature] 24/11/2022 00:25

Zzzzzz in the Times now. Any sign of H1 results

[kreature] 24/11/2022 00:18

Well you sure this isn’t just theatre ?
24th Nov 2022,

[kreature] 23/11/2022 17:12

Sub 10p close, ouch. So when do the lads get to buy their £5 shares back for 10p ? Or is that too much to pay

[kreature] 23/11/2022 15:47

Ok thank you.

[jh27] 23/11/2022 14:42

No you have to contact your platform (HO or whatever) and their Corporate Action department casts your votes.

[kreature] 23/11/2022 14:10

Stemming outflow of cash maybe?

So what’s the deal for a vote, is it purely a show of hands at the GM ?

In which case will probably attend.

[kreature] 23/11/2022 12:58

But, what should they do differently in your view ?

What are the alternatives?

[hillofwad] 23/11/2022 12:25

Poor management at every level.Cvalry req'd bring reinforcements

They are losing valuable foot soldiers




Less than 100 instructions yesterday

They will be lucky to have £30m remaining in the Tommy

[kreature] 23/11/2022 12:09

Is this a ‘squeeze-out’ of minority shareholders ? (Ffs)
In which case I would claim unfair prejudice. Not sure why, but it sounds good

[kreature] 23/11/2022 11:46

Then they are maybe trying to let someone in at sub 10p ?
Oh I forgot that it’s all above board

[jh27] 23/11/2022 11:02

Why into admin? It has £35m+ of cash?

We are all shareholders too. And there are other instos who can’t be happy holders either.

Axel are conflicted.

[kreature] 23/11/2022 10:24

So are you are guessing that purp bod are deliberately aiming to put this into administration so that Axel can take everything ? I don’t see Lecram can do anything against 25% plus ?

[jh27] 23/11/2022 10:17

It suits Axel to keep Pindar in place given they have a publicly stated ambition to “consolidate” (acquire) their European investments into AVIV, their vehicle.

Wait until Pindar drags PURP into Eve Sleep territory and pick it up for nothing.

The management have no relevant experience. Harry Hill looks like he doesn’t suffer fools. And with a track record to boot.

I know how I’m going to vote.

hxxps://www.axelspringer.com/en/ax-press-release/ait-voncke-to-become-the-new-ceo-of-aviv-group-from-january-2021

[kreature] 23/11/2022 10:16

Sub 10p, and paving the way. Surely risk reward is okay from here ? Unless they are planning on going bust ?

[kreature] 23/11/2022 09:58

GM, 19th Dec , 10am. Not sure what good can come from it re removing the existing guy ? My guess is they will keep Pindar, and add Hill as a non exec.

[kreature] 23/11/2022 04:07

Oh ffs….


PB have to respond to the Lecram general meeting letter by around next Tuesday by the way. Not sure what the point is if Axel are siding with existing regime? May as well just sit it out until we lose everything ? Still feels like the proclaimers will be back tho somehow, but hopefully singing a new tune