The resolutions voted upon - whether or not to remove Pinder from his role as chair, and whether to appoint industry veteran to the board of directors, which were proposed by Lecram Holdings Limited - were both rejected, but the votes represented a significant split in shareholder sentiment.
The vote on the chair saw 28.9% for and 71.71% against removing Pinder, while the vote to appoint Harry Hill as director saw 41.80% for and 58.2% against.
In a statement, the company's directors acknowledged that while both votes were rejected, a significant proportion of shareholders voted in their favour, and said:
"[The directors will] continue to engage with shareholders to ensure there is "full alignment on the strategy, objectives and most importantly its delivery and, as required under the QCA Corporate Governance Code, will explain any different action it will take as a result of the vote at its full year results".
Helena Marston, Purplebricks CEO, commented:
“I want to reassure all shareholders that we understand their concerns. Our past performance has not been good enough. But we have a new team, with an agreed plan that is being delivered at pace. The operational changes implemented over the last four months will be clear for all to see at our final results, in terms of a substantially improved cash and profit performance. We take nothing for granted and we are fully committed to driving improved performance, higher standards and value for all stakeholders.
“The housing market will be what it will be in 2023 but we have a value driven customer proposition, right sized our cost base by £17m, and laid the foundations for a more balanced business with the recent launch of new revenue streams and a plan to grow our lettings business. There is a big opportunity for Purplebricks and we want the opportunity to deliver it.”
