M Winkworth plc Non-Executive Chair Simon Agace has agreed to give the company undertakings restricting action over the composition of its board as High Court proceedings between the parties continue.
The undertakings prevent Agace from taking or encouraging steps to remove or appoint company directors without first providing seven days’ written notice. No such action can take place before 10 September 2026.
Winkworth and Agace have agreed the terms of a consent order which has now been approved by the High Court.
The company’s application for interim injunctive relief has consequently been adjourned until 5 October 2026, although the order includes permission for it to be restored before then.
ALLEGATIONS REMAIN UNDETERMINED
Winkworth began proceedings against Agace in the High Court of Justice, Business and Property Courts of England and Wales, on 6 August.
The proceedings concern alleged breaches of confidentiality, provisions contained within a relationship agreement entered into by the parties in November 2009 and associated duties under the Companies Act 2006.
Winkworth had sought interim injunctive relief concerning proposed changes to the composition of its board and the use or disclosure of confidential company information. It also sought information relating to the alleged disclosure of confidential information to third parties.
The allegations have not been determined by the Court and no ruling has been made on Winkworth’s application for interim relief.
DISCUSSIONS CONTINUE
Winkworth and Agace are continuing discussions with the aim of resolving the matters between them.
The franchised estate agency group says its business continues to operate as usual, with its executive team remaining focused on delivering the company’s strategy.
