Winkworth delays legal drama for a month after family feud

City estate agent Winkworth has delayed a legal dispute for a month following a family feud at the company. The legal battle, initiated by chair Simon Agace and his wife, aimed to remove the board, including Agace's son. The company's chief executive, Dominic Agace, launched the legal proceedings last week. Winkworth, which is AIM-listed, announced that the involved parties are continuing discussions to resolve the matter.

According to the undertakings, Simon Agace is barred from removing or appointing company directors without giving seven days' written notice and before 10 September 2026. Winkworth stated that it continues to operate as usual and that the executive team remains focused on delivering the company's strategy. The chair allegedly breached provisions of his contract dating back to 5 November 2009 and duties related to his director role under the Companies Act.

Simon Agace served as Winkworth's CEO for 30 years until 2004, when he stepped down and passed the reins to Dominic. The pair have been running the property firm together since its flotation on the London Stock Exchange in 2009. At the company's annual meeting in May, Agace's wife, Irene Ho Kim Lee, used her 34 percent voting power to attempt to oust all directors except her husband.

Simon demanded an overhaul of the board with members of his choosing and threatened a shareholder meeting if his demands were not met. Winkworth's share price rose 5.88 percent to 180p on Wednesday, valuing the company at £23.2 million.