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Property Franchise Group bosses to receive 1.5m new shares in company if targets are hit

YOPA NS

The Property Franchise Group – parent company to brands including Martin & Co and EweMove – has announced the grant of new ordinary shares in the company to CEO Ian Wilson and chief financial officer David Raggett.

The awards, of 1m shares to Wilson and 500,000 to Raggett, will be subject to the growth in the company’s basic earnings per share over the three years to the end of December 2019.

Shares in the Property Franchise Group were yesterday unchanged at just over 160p after the announcement, made on Friday, the day after the election.

By contrast, the election may have rattled investors’ nerves elsewhere. Purplebricks’ shares dropped some 7% yesterday, to finish the day at 405p, although its market capitalisation still topped £1bn.

Countrywide shares slipped 1.3%, ending the day at 150p and taking the market cap of the UK’s largest estate agent to £333.8m.

Foxtons shares, however, crept up by 1.5% to finish at 100p. The profit-making firm is now worth £271.5m.

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Source:: Property Franchise Group bosses to receive 1.5m new shares in company if targets are hit