Property listing service Purplebricks has released a statement claiming that 99.98% of their shareholders are in favor of the company's current outlook, especially in regards to its new investment program.
“The Board believes that this is a major strategic advance for the Company and that Axel Springer’s expertise and funding should enable Purplebricks to achieve its strategic goals and global ambition more quickly and effectively,” says the statement.
This support was followed by a large investment from Axel Springer, totaling £125 million. Axel Springer now owns 11.5% of Purplebrick's capital.
Purplebricks plans to use these funds to continue their expansion, as well as further their advertising campaigns.
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