Completion of Strategic Investment and PDMR Notice

RNS Number : 4427L

Purplebricks Group PLC

19 April 2018

 

19 April 2018

Purplebricks Group plc

("Purplebricks" or the "Company")

Completion of Strategic Investment

And

PDMR notification

Purplebricks Group plc (AIM: PURP), the hybrid estate agent, announces the completion of the £125 million strategic investment in the Company by Axel Springer (the "Strategic Investment") as more fully detailed in the Company's announcement of 26 March 2018 and the shareholder circular published on 29 March 2018.

Following the admission today of the 27,777,777 new ordinary shares of 1 penny each ("Ordinary Shares") under the £100 million subscription by Axel Springer, the Company confirms that it has been notified that Axel Springer has today purchased a total of 6,944,444 ordinary shares at 360 pence per Ordinary Share for an aggregate consideration of approximately £25 million from Michael Bruce, Group Chief Executive Officer, Kenny Bruce, Global Sales Director, and William Whitehorn, Non-Executive Director (the "Share Sale"). 

Following the Share Sale: Michael Bruce and his connected persons are beneficially interested in 33,218,147 Ordinary Shares, representing approximately 11.01 per cent. of the Company's issued share capital; and William Whitehorn and his connected persons are beneficially interested in 613,269 Ordinary Shares, representing approximately 0.20 per cent. of the Company's issued share capital. 

As a result, following the Share Sale, Michael and Kenny Bruce together with the existing directors of the Company, and their connected persons, as a whole retain a beneficial interest in 53,326,697 Ordinary Shares, representing approximately 17.67 per cent. of the Company's issued share capital. 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.    Michael Bruce 2.    Kenny Bruce 3.    William Whitehorn
2	Reason for the notification
a)	Position/status	1.    Group Chief Executive Officer 2.    Global Sales Director 3.    Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Purplebricks Group plc
b)	LEI	2138003JWQLI3386BB56
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 1 penny each ISIN: GB00BYV2MV74
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price No. of shares 1.    360p 2.    360p 3.    360p 1.    4,444,444 2.    2,275,000 3.    225,000
d)	Aggregated information - Aggregated volume - Price	6,944,444 Ordinary Shares 360p per Ordinary Share
e)	Date of the transaction	19 April 2018
f)	Place of the transaction	Outside of a trading venue

For further information, please contact:

Purplebricks Group plc Michael Bruce, Group Chief Executive Officer James Davies, Chief Financial Officer	[phone]
Zeus Capital Limited (Nominated adviser to the Company) Nicholas How, Ben Robertson, Giles Balleny	[phone]
Instinctif Partners David Simonson, Mark Reed, George Yeomans	[phone]

About Purplebricks

Purplebricks is the leading next generation estate agency in the UK with operations in Australia and the US that combines highly experienced and professional Local Property Experts (Local Real Estate Experts in the US) and an innovative use of technology to help make the process of selling, buying or letting so much more convenient, transparent and cost effective. Purplebricks is transforming the way people perceive estate agents and estate agency.

 

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