National real estate firm The Agency Group has been placed in administration by an entity associated with its former director, which is claiming $379,000 in outstanding debt.
The board of The Agency Group has urged shareholders to ignore a proposal by an entity associated with the real estate company's ex-director and major shareholder.
Perth-based The Agency Group Australia has executed an option to acquire east coast real estate group Top Level for $5.5 million, while also announcing an $8.4 million capital raising and a $5 million debt conversion deal.