Purplebricks rises on $1.9 mln Lecram buyout proposal

Purplebricks

30/05/2023 08:29

** Purplebricks' shares  PURP.L  up 6% at 0.7p in morning
trade 
    ** British online estate agent gets indicative takeover
proposal from Lecram Holdings, one of its top shareholders,
valuing it at ~1.5 mln pounds ($1.9 mln)
    ** Lecram proposes to pay 0.5p per PURP share in cash 
    ** PURP says Lecram's offer does not reflect improvement
with regards to "anticipated return to shareholders and
certainty for the company's other stakeholders"
    ** Co had agreed to be bought by Strike for just one pound
earlier this month
    ** Stock down 92.3% YTD

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.mathews@thomsonreuters.com))