Countrywide may have enjoyed the overwhelming support of its major institutional shareholders for its controversial rescue plan, but the wider financial world appears distinctly unimpressed.
Countrywide’s share price yesterday closed just over 10 per cent down at just under 13.3p - valuing the company overall at just £78m.
The announcement that only around two per cent of investors rejected the £140m cash call came at lunchtime yesterday, following a General Meeting of investors - and prompted a seven per cent drop in the share price.
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