Countrywide shareholders would be given the option to sell their shares at a price of 250p each.
Shareholders last month spurned proposals that would have involved raising £90 million in equity from Alchemy.
Countrywide’s executive chairman Peter Long left the business last month and former William Hill chief executive Philip Bowcock has stepped into the role of acting chief executive.
The firm today said the board “remains committed to engaging with all major shareholders to examine all options”.
Shares in Countrywide improved 10%, or 23.4p, to 250p.
