Purplebricks Group Plc: Directorate change

Purplebricks Group Plc (PURP) Purplebricks Group Plc: Directorate change 07-March-2023 / 07:00 GMT/BST     Purplebricks Group plc   (“Purplebricks” or the “Company”)   Directorate change     Purplebricks Group plc (AIM: PURP), the UK’s leading tech-led estate agency business announces an update with regards to its Axel Springer Board representative, Ait Voncke. Ait was appointed to the board as a representative of Axel Springer SE ('Axel Springer'), a 26.5% shareholder in the Company, in July 2022.  Following commencement of the strategic review announced by the Company on 17 February 2023, Axel Springer and the Company have been considering the regulatory and governance expectations around equality of information between shareholders during an offer period. After reviewing the position, Axel Springer has concluded that it will not maintain a board representative for the time being.  Accordingly, Ait has stood down from his position as a director of the Company with effect from 6 March 2023, for the time being.  Axel Springer retains a contractual right to appoint a representative to the board of Purplebricks at its discretion.   Ait Voncke, CEO of AVIV Group, said:   "Axel Springer is fully supportive of the strategic review and formal sale process being undertaken by the Purplebricks board. We are confident this review and process will benefit stakeholders and support the long term growth of the business."     Enquiries For further information, please contact: Purplebricks     Helena Marston (CEO) Dominique Highfield (CFO) Via M7 Communications Ltd                                                                                                                       Zeus (Nominated Adviser and Broker) Jamie Peel, James Hornigold (Investment Banking) + 44 (0)20 3829 5000 Ben Robertson (Corporate Broking)          M7 Communications   Mark Reed + 44 (0) 7903 089 543 mark@m7communications.co.uk About Purplebricks Purplebricks is a leading technology-led estate agency business, based in the UK. Purplebricks combines highly experienced and professional Local Property Partners and innovative technology to help make the process of selling, buying or letting more convenient, transparent and cost effective. Purplebricks shares are traded on the London Stock Exchange AIM market. Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

ISIN:	GB00BYV2MV74
Category Code:	BOA
TIDM:	PURP
LEI Code:	2138003JWQLI3386BB56
Sequence No.:	227831
EQS News ID:	1575993

End of Announcement	EQS News Service

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