WORKSPACE GROUP

Workspace Group has announced the admission of 359,976 new ordinary shares (nominal value £1, ISIN GB00B67G5X01) to trading on the main market of the London Stock Exchange. The shares were issued to satisfy allocations under the long‑term incentive plan and are fully fungible with the existing ordinary shares. After the admission, the total number of issued ordinary shares is 192,673,240; the admission took place on 22 June as part of an existing block admission without a prospectus requirement. » Mere på de.investing.com

At the annual general meeting, shareholders voted against all six board candidates proposed by Saba Kapital Management. The other resolutions 1–17, 19 and 20 were passed; resolution 18 (removal of pre-emption rights) received 67.13%—below the 75% threshold—and was rejected. Workspace Group confirmed the re-election of the existing board, approved a final dividend of 16.7 pence per share and reappointed BDO LLP as auditor. The company said it will continue the dialogue with all shareholders, including Saba. » Mere på de.investing.com

Workspace is offering assets worth more than £200m for sale and is reviewing further disposals of around £100m. The steps follow Saba Capital Management increasing its stake to 29.1%, making Saba the largest shareholder and prompting calls for a board change and tougher strategic reforms. CEO Charlie Green says the company, with the right strategy, aims to become more earnings-focused and to boost long-term value for shareholders. » Mere på de.investing.com

Workspace Group recorded a trading profit after interest of £60.5m (−9.4%) in the 2026 financial year on revenues/net rents of £113.4m (−7.1%). The value of the property portfolio fell 7% to £2.1bn, and the occupancy rate was 81.6%, below the target range. Management is introducing an earnings-linked dividend policy (final dividend £0.167) and plans portfolio optimisation, strategic disposals and product redesign to strengthen earnings. » Mere på de.investing.com

The Workspace share rose slightly by 0.18% to 328.2 pence after Stifel Nicolaus confirmed its buy recommendation while Deutsche Bank simultaneously downgraded the stock to "Hold." Deutsche Bank expects a slower recovery, citing a flat like-for-like occupancy rate of 82% and slight pressure on rents. Management is prioritizing a long-term repositioning as a cheaper option rather than short-term price increases. Activist Saba Capital is intensifying its campaign against Workspace, creating additional uncertainty for shareholders. » Mere på de.investing.com