LSL, the parent company of Reeds Rains and Your Move, has just announced a bumper share package for directors and senior executives.

Less than two months after revealing huge profit increases, the group has informed the City that the total pool available will be based on up to 10% of the growth in the company’s equity value.

Focus

Adrian Collins, Non-Executive Chair at LSL, says: “I want to ensure that the focus of LSL’s executive management team is on driving sustainable, profitable value growth and real, share price related returns from which all shareholders may benefit.

“The scheme we are proposing is designed to achieve exactly that. Having engaged in an extensive consultation exercise with our major shareholders both in the UK and the US, we believe that the scheme has wide-ranging support”.

The proposals will be put to a general meeting of shareholders on 28 May.

Transformed

LSL transformed its operating model in 2023 by switching all of its branches to franchises.

And in November last year, it also launched a new ‘hybrid associate model’ for self-employed agents.

LSL released its full-year results to the City in March, showing group operating profit was up an astonishing 484% to £21.9 million.

New CEO

Former CEO David Stewart, who took up the reins in 2020, stood down on 1 May to be replaced by former CFO Adam Castleton, who before joining LSL in 2015 had a non-property background including stints with eBay, 02 and The Walt Disney Company.

Stewart has remained with LSL as a non-executive director of the group’s financial services division, PRIMIS Mortgage Network.

LSL has 62 estate agency franchisees operating in 310 territories, making it one of the biggest providers of franchise services in the UK.