ASX scrutinising McGrath over share price plunge
McGrath real estate is reportedly under scrutiny by the Australian Securities Exchange after a board and management exodus and a plunge in profit led to a share price plunge. Four board members and the company's Chief Executive announced their departure yesterday. It was then revealed that the company's owner John McGrath will take up the position of Executive Chairman, fuelling speculation that the wealthy real estate agent could privatise the company. McGrath will release it's half year report in February.