Family tightens grip on Winkworth with increased shareholding
Two members of the Agace family have purchased more shares in Winkworth, taking the total to almost 42%.
The controlling family at the helm of Winkworth has increased its holding in the company’s total shares.
Simon Agace, non-executive chairman, and his son Dominic Agace, CEO, (main picture) run the franchise-based firm as a PLC after it was floated in 2009.
Now, Agace family members own nearly 42% of Winkworth after Dominic’s brother and sister, Louis and Gina, increased their holdings with purchases of 900 shares each.
The siblings bought the shares for 162p, with Louis taking his total to 0.35% of the company and Gina to 0.3%. The family now owns 5,320,981 shares, or 41.79% of the company’s total capital.
Winkworth reported sales of £39 million last year from its franchised network, an increase of 64%, out of a total of £64.8 million including lettings and management revenue. The company, which is listed on the AIM market of the London Stock Exchange, opened six new offices in 2021, and plans to open eight more this year.
Traditionally concentrated in London as an upmarket agent, Winkworth does though have offices in other parts of the country such as Norfolk, Devon and Dorset.
Debt-free
In the company’s annual report published in April, Simon Agace said: “From my inception of Winkworth’s franchise system in 1981, I have always backed teams of experienced estate agents to grow their operations.
“The current management team has steadily and carefully continued this strategy to even greater effect. We are a debt-free business and have advanced plans for investing in new franchises”, he said.
