Purplebricks sale process 'ongoing', Strike offer deadline extended

12th Apr 2023 15:54

(Sharecast News) - Real estate agency Purplebricks said on Wednesday that its formal sales process had progressed into "a more targeted phase of detailed diligence and discussions".

Purplebricks said discussions between it and Strike regarding its potential participation in the formal sale process remained ongoing and, in order to allow further time for said discussions, an extension to the deadline by which Strike must announce a firm intention to make an offer had been extended until 10 May.

"There can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer, if made," noted Purplebricks.

As of 1625 BST, Purplebricks shares were down 7.29% at 6.74p.

Reporting by Iain Gilbert at Sharecast.com