Shareholders to decide demerger

Shareholders will decide next month if Esure’s demerger with Gocompare will go ahead.

They will meet on November 1 to decide if the plan meets their approval.

The group revealed plans to spin-off its aggregator site in September through a separate listing on the London Stock Exchange. Sir Peter Wood, chairman of Esure Group, said the move would allow both entities to thrive and reach their full potential.

He said, ‘Esure and Gocompare.com are distinct businesses, which are both underpinned by strong brands. A demerger will allow the separate management teams to focus on their independent strategies, and also enhance their ability to align senior management incentives.’