Original article by Robyn Ironside
The Australian – Page: 13 & 18 : 18-Jan-18
REA Group has advised that real estate agent John McGrath has stepped down as a director of the online property listings group. McGrath is said to have resigned from REA’s board for personal reasons, and Gareth James of Morningstar says it would not be a surprise if McGrath chose to focus on his real estate business. McGrath Limited’s profits and share price fell sharply in 2017, prompting speculation that it could delist from the stock exchange. John McGrath was on the REA board for almost 19 years, and he owns $A10.9m worth of shares in the group.
REA GROUP LIMITED – ASX REA, McGRATH LIMITED – ASX MEA, REALESTATE.COM.AU, MORNINGSTAR PTY LTD, CORELOGIC AUSTRALIA PTY LTD