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Local Property Experts and staff snap up share options in Purplebricks

ON THE MARKET

Options to buy almost a million shares in Purplebricks have been exercised by a number of employees and Local Property Experts.

Altogether options have been taken to subscribe for 961,762 shares at £0.01p each.

The statement to the Stock Exchange says the options were granted under various incentive schemes, and that some of those who exercised their options subsequently sold a number of shares at £4.40 each.

Pursuant to the exercise of the options, an application will shortly be made to the London Stock Exchange for 961,762 new Ordinary Shares to be admitted to trading on AIM (Admission).

It is expected that Admission will become effective on July 10.

The company’s issued ordinary share capital following Admission will be 271,554,027 ordinary shares.

According to the statement, Joby Russell, Purplebricks’ chief marketing officer in Australia, bought and sold 30,000 shares.

Paul Vickerstaff, UK sales director, bought and sold 20,301 shares.

Four others bought shares but did not sell. They were David Shepherd, chief information officer; Matthew Farrow, finance director; Richard Jacques, lettings director; and David Kavanagh, chief technology officer.

The Local Property Experts were not named in the statement.

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Source:: Local Property Experts and staff snap up share options in Purplebricks