Openwork partners have overwhelmingly backed changes to the way they participate in the equity of the business at an extraordinary general meeting.
Partners voted 96% in favour of the changes which give them new ways to trade units in the partnership and enable them to earn a greater stake.
Openwork said its launch of the Openwork Internal Market from 18 November builds on its strategic commitment to support partners throughout the lifecycle of their businesses – from set up to sale.
It added the changes will give partners the ability to realise value from their own business as well as the opportunity to realise value from the stake they have built up in The Openwork Partnership.
In total 500 partners took part in the process leading up to the EGM, which enables it to launch its first trading window running for two weeks from 18 November. In future there will be two trading windows a year expected to be held in March and September.
Philip Howell, chief executive of The Openwork Partnership, said: “The overwhelming partner vote in favour of these measures underlines our shared vision and confidence in the future success of the business.”
Stuart Dodson, chairman of the Shareholder Council, added: “This is a very exciting time for the partnership, and I am grateful for the commitment partners have shown to creating an exciting future for the network and all its partners.”
