OnTheMarket plc Grant of Options (6653Y)

TIDMOTMP

RNS Number : 6653Y

OnTheMarket plc

11 September 2020

ONTHEMARKET PLC

("OnTheMarket", the "Group" or the "Company")

Grant of options

OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, announces that it granted options yesterday over 404,762 ordinary shares of GBP0.002 in the Company ("Ordinary Shares").

 
 PDMR             Position                           Type         Number of Ordinary 
                                                      of Award     Shares over which 
                                                                   options awarded 
                  Chief Financial Officer and 
 Clive Beattie     Acting Chief Executive Officer    LTIP         404,762 
                 ---------------------------------  -----------  -------------------

119,048 options vest on 1 February 2023 and the remaining 285,714 on 10 September 2023, with the latter also having a further 2 year holding period following the vesting date before exercise is possible. All the options have a nil exercise price and are subject to performance conditions based on the total shareholder return achieved by the Company relative to the FTSE Aim 100 Index in the three years until the relevant vesting date.

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation, and set out more details of the transactions.

 
 1.    Details of PDMR 
 (a)   Name                                     1. Clive Beattie 
      --------------------------  --------------------------------------------------- 
 2.    Reason for notification 
      ------------------------------------------------------------------------------- 
 (b)   Position / status                        1. Chief Financial Officer and Acting 
                                                 Chief Executive Officer 
      --------------------------  --------------------------------------------------- 
 (c)   Initial notification        Initial notification in each case 
        / amendment 
      --------------------------  --------------------------------------------------- 
 3.    Details of the Issuer 
      ------------------------------------------------------------------------------- 
 (a)   Name                        OnTheMarket plc 
      --------------------------  --------------------------------------------------- 
 (b)   LEI                         213800UNVSN2LXD4W113 
      --------------------------  --------------------------------------------------- 
 4.    Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transaction(s) 
        have been conducted 
      ------------------------------------------------------------------------------- 
 (a)   Description of the          Ordinary shares of 0.2p each in the capital 
        financial instrument        of the Company ("Shares") 
      --------------------------  --------------------------------------------------- 
 (b)   Nature of the transaction   Grant of options to acquire Shares pursuant 
                                    to the Company's Long Term Investment 
                                    Plan 
      --------------------------  --------------------------------------------------- 
 (c)   Price(s) and volume         Option price nil, volume 404,762 options 
      --------------------------  --------------------------------------------------- 
 (d)   Aggregated information      N/A 
      --------------------------  --------------------------------------------------- 
 (e)   Date of the transaction     10 September 2020 
      --------------------------  --------------------------------------------------- 
 (f)   Place of the transaction    Outside a trading venue 
      --------------------------  ---------------------------------------------------

ENDS

For further information, please contact:

OnTheMarket 0207 353 4200

Clive Beattie, Acting Chief Executive Officer

Tulchan Communications 0207 353 4200

James Macey White

Giles Kernick

Sophie Duckworth

   Zeus Capital (Nominated Adviser/Joint Broker)                                0203 823 5000

Jamie Peel, Martin Green, Daniel Harris

(Corporate Finance)

John Goold, Benjamin Robertson (Broking)

Shore Capital (Joint Broker) 0207 408 4090

Daniel Bush, John More (Corporate Finance)

Fiona Conroy (Corporate Broking)

Background on OnTheMarket :

OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, is a leading UK residential property portal provider.

Its objective is to create value for shareholders and property advertiser customers by delivering an agent-backed, technology enabled portal - offering a first-class service to agents and new homes developers at sustainably fair prices and becoming the go-to portal for serious property-seekers.

With over 3,000 estate and letting agent shareholders, operating over 6,000 offices, OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal. Agent backing and support enable OnTheMarket to display "New & exclusive" properties to serious property-seekers 24 hours or more before agents release these properties to other portals.

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END

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September 11, 2020 02:00 ET (06:00 GMT)

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