Legislation on how business premises are valued must change – Cllr Gallagher

first_imgNews By News Highland – March 2, 2011 365 additional cases of Covid-19 in Republic Pinterest Twitter Google+ Man arrested on suspicion of drugs and criminal property offences in Derry 75 positive cases of Covid confirmed in North Further drop in people receiving PUP in Donegal Legislation on how business premises are valued must change – Cllr Gallagher Donegal County Council is being asked to lobby government for a change in legislation on how business premises are valued and the subsequent business rate the owners must pay.The Valuation office in Dublin determines a rate for each premises in Donegal based on its size – the figure is then multiplied by the local authority’s rate to determine what each business must pay.Councillor Marie Terese Gallagher argues this is unfair as a large premises may have a low turnover while a smallpremises may house a very profitable business.She says a more fair way of determining rates must be introduced as the current system is putting many companies out of business:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/03/mari830.mp3[/podcast] Main Evening News, Sport and Obituaries Tuesday May 25th center_img Facebook WhatsApp Previous articleCampaign group says promises must be delivered to Sligo General HospitalNext articleFunding for work on Derry/Coleraine railway postponed News Highland Twitter Google+ Facebook RELATED ARTICLESMORE FROM AUTHOR WhatsApp Pinterest Gardai continue to investigate Kilmacrennan firelast_img read more

Purplebricks CEO sells off shares worth £16m

first_imgPayday for Purplebricks co-founder and CEO Michael Bruce (pictured, above) has arrived after it emerged that he has sold shares worth just shy of £16 million.Michael sold 4.4 million shares for £3.60p per share on Thursday last week.His disposal of shares would appear to be part of the £125 million deal between German media giant Axel Springer and Purplebricks signed off by shareholders last week, also on Thursday.As well as buying a huge tranche of 27.7 million new shares issued by Purplebricks on AIM, Axel Springer also agreed to buy shares held by several directors of the hybrid agency, including Michael Bruce and his brother Kenny.Good dealThe brothers and the others struck a good deal with Axel Springer, as the shares are being bought off them at a considerable premium to their current AIM trading price of £3.20p.It’s also good timing – the Purplebricks share price has been dropping since the Axel Springer deal was announced, including a reduction of nearly 4% on Friday and down from £3.33 on 19th April and £4.89 in early January.But the lower share price also reflects some City investors’ worries over a recent UBS investment update that questioned whether Purplebricks could sustain its recent rapid growth in the UK.This extra cash raised by the new shares will be spent on speeding up its fast-moving roll-out in America, supporting entry into new markets – which could mean in the Europe where Axel Springer is a player in the property portal market – and to fund an upgrade of its digital CRM and property search systems.Kenny Bruce Michael Bruce Purplebricks AIM AIM market April 24, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Purplebricks CEO sells off shares worth £16m previous nextAgencies & PeoplePurplebricks CEO sells off shares worth £16mHybrid agent’s co-founder cashes in as deal with Axel Springer to buy his shares kicks in.Nigel Lewis24th April 201802,601 Viewslast_img read more