Embattled fund manager Neil Woodford has lowered his stake in Purplebricks yet again.
The holding of Woodford Investment Management has slipped from 17.64% of the issued share capital of the business to 15.53%.
Toscafund, meanwhile, has raised its stake from 11.2% to 12.8%.
The announcements were both made yesterday to the stock market.
In June, Woodford cut his stake in Purplebricks from almost 29% to 24%, going on to reduce it further to first 19.25% and then, on September 20, to 17.64%.
German publisher Axel Springer is the biggest shareholder, with a stake of 26.57% according to Purplebricks’ latest annual report.
Woodford now looks to be the third largest shareholder, after Axel Springer and Merian Global Investors.
Purplebricks yesterday ended trading with its shares down almost 3% at 110p.
Comments (4)
Purplebricks has been ordered to pay a tenant £250 in compensation after being found to have twice contravened a key paragraph within The Property Ombudsman (TPO) Code of Practice. It has also been criticised by the ombudsman for not providing key documents despite multiple requests to do so.
Following the TPO judgement one of the tenants took to Twitter to vent their anger at the £250 award and the service they had received from Purplebricks.
No doubt PIE will be covering this tomorrow.
Hold the front page, tenant wins £250 compensation……..I hope we have more interesting stories to read than something that no doubt happens dozens of times a day up and down the country. Tenants get compensation all the time for whatever reason. Bigger more interesting stories please.
it amazes me PB are still even trading.
They dont have a viable business model, they know it, we know it.
Maybe Axel needs to take a closer look at what he’s bought, a big pile of purple ****
Only a small SP drop despite Woodford dropping another 2%
Toscafund looking to make life difficult for Axel to take control
When reaching for the rose sometimes all you get is a handful of thorns !