Real estate agency Winkworth has launched a legal battle against its non-executive chair Simon Agace over breaches of confidentiality, contractual obligations and his duties as a director.
Winkworth CEO Dominic Agace
The company said it had filed High Court proceedings against Agace and applied for interim injunctive relief concerning proposed changes to the composition of the board and the use of confidential information.
The allegations have not been determined by the court, and so no determination has yet been made in relation to the company’s application for interim relief.
The filings state the legal proceedings relate to alleged breaches of confidentiality and of certain provisions of his contract dating back to November 2009.
This follows the company’s annual general meeting (AGM) in May, when a high number of shares were withheld from voting on several resolutions, leading to questions about boardroom tensions.
All resolutions at the AGM on 21 May were ultimately passed on a poll, with the number of share votes for proposals to reappoint Agace as director standing at 7,665,488, making up 99.95% of votes cast, while 9,714 votes were withheld.
Meanwhile, the number of share votes to reappoint Dominic Agace, Simon Agace’s son, as chief executive, stood at 2,369,272, making up 99.85% of the votes, with 5,305,930 share votes withheld.
According to reports in City AM, Simon Agace’s wife, Irene Ho Kim Lee, used her 34% voting power as a Winkworth shareholder to oust all board members except Simon Agace, including Dominic Agace.
A Winkworth spokesperson said: “It is unfortunate that this matter has reached this stage. As legal proceedings are ongoing, it would not be appropriate for the company to comment further.”
In an update, Shore Capital said Winkworth “continues to operate as usual, and the executive team remains focused on the delivery of the company’s strategy”.
Simon Agace became managing director of Winkworth in 1974, having qualified as a chartered auctioneer and estate agent and a chartered surveyor in the 1960s. As a fellow of RICS and a member of the NAEA, Agace has served on a number of RICS committees including the Home Buying Reform Group, the Agenda for Change in 2001 and the Lettings and Management Group.
Dominic Agace has served as chief executive of Winkworth since 2006, having first joined in 2001 to lead its research department. In 2004, he was appointed executive director with specific responsibility for marketing, IT and growth.
In its latest results, Winkworth revealed its pre-tax profits dropped to £2.11m in 2025, down 11% from £2.36m in 2024, due to a “disappointing H2” performance driven by uncertainty about last year’s delayed Autumn Budget.
Further updates will be published as the case progresses.
Please visit:
Our Sponsor