Members of Zoopla Property Group (ZPG) who purchased discounted shares in ZPG as part of the exclusive Member Offer in last June’s IPO have seen a very strong return of over 55% on their investment in under 12 months with ZPG shares trading well above the IPO price following a strong set of first half year results and the recent uSwitch acquisition.
And, under the terms of the Member Offer, those who bought shares last year and still remain members of ZPG will have the opportunity to purchase the same amount of shares again on the upcoming IPO anniversary date at the same fixed price of £1.76 per share, allowing them to score an instant profit of over £1,000 per office based on the current ZPG share price.
Last year £9.2m of ZPG shares were purchased by around 4,000 members in the IPO at a 20% discount which equated to a more than £1.8m giveaway by ZPG to its members to thank them for their support. Based on the current share price, if all eligible members take up their anniversary entitlement this will equate to a further giveaway by ZPG of almost £3.7m to reward these members for their ongoing loyalty.
ZPG will be communicating directly in the coming days to all eligible members who took up the Member Offer last year with details of how to apply for the discounted anniversary. The Member Offer, including the discounted anniversary offer, is funded by shares set aside by pre-IPO shareholders and is therefore not dilutive to existing shareholders.
Alex Chesterman, Founder & CEO of ZPG said, “At the time of our IPO last year we were happy to be able to offer our agent members the opportunity to buy shares at a discounted price and become shareholders and were delighted with the take up by our members. Those who took us up on the offer have made a healthy profit and over 90% of them remain members today and are eligible to buy more shares at £1.76 as part of the anniversary offer. It is great that we have been able to reward these members for their loyalty with over £5.5m over the last year.”