The founders of online estate agency EweMove appear to have picked up the final part of a huge £9m in a payday expected to be confirmed today.
The pair who founded EweMove, complete with its jokes, will be having the last laugh.
David Laycock and Glenn Ackroyd founded EweMove and then sold it to The Property Franchise Group in September 2016.
The business subsequently proved to be loss making for TPFG, while the two founders left the following June, before their final earn-out, which could have been worth another £7m.
The pair have now sold shares that they received as part-payment for the business.
They have received the final £9m in total, with £6m in cash and £3m in shares.
They received 2,321,550 shares at the time of the sale, some of which they subsequently sold.
EYE is told that their reason for selling is not that they don’t believe in EweMove or TPFG but because as private individuals they would have too much of their wealth tied up in only one stock.
Meanwhile this morning it was announced that German company Bavaria Industries Group, based in Munich, has acquired 10.3% stake in the company whose brands include Martin & Co.