Purplebricks Group plc announced an update with regards to its Axel Springer Board representative, Ait Voncke. Ait was appointed to the board as a representative of Axel Springer SE ('Axel Springer'), a 26.5% shareholder in the Company, in July 2022. Following commencement of the strategic review announced by the Company on 17 February 2023, Axel Springer and the Company have been considering the regulatory and governance expectations around equality of information between shareholders during an offer period.

After reviewing the position, Axel Springer has concluded that it will not maintain a board representative for the time being. Accordingly, Ait has stood down from his position as a director of the Company with effect from 6 March 2023, for the time being. Axel Springer retains a contractual right to appoint a representative to the board of Purplebricks at its discretion.