Activist investor demands resignation of Purplebricks chairman


Source: Shutterstock/D. Pimborough

Activist investor Adam Smith has called on Purplebricks chairman Paul Pinder to resign after taking a 4% stake in the online estate agency.

Smith’s Lecram Holdings has been building a stake in Purplebricks since last month and is nearing the minimum 5% level that will allow him to call on the board to convene an extraordinary general meeting to discuss his demand for Paul Pindar to step down from the chair.

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