OnTheMarket plc EBT share purchase programme (4138F)
July 10 2023 - 2:01AM
UK Regulatory
TIDMOTMP
RNS Number : 4138F
OnTheMarket plc
10 July 2023
10 July 2023
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
EBT share purchase programme
On 3 July 2023 the Board of OnTheMarket plc (AIM: OTMP) ,
submitted a letter of wishes to the OnTheMarket Employee Benefit
Trust ("EBT"). The letter requested that the trustees commence a
market purchase programme of ordinary shares of 0.2 pence each in
OnTheMarket plc (Ordinary Shares) with effect from 10 July 2023
(the "Programme"). The request also set out certain parameters
within which the Programme should be conducted, including a price
cap and daily and weekly volume limits. The Company has made funds
available to the EBT to facilitate the Programme. Ordinary Shares
purchased by the EBT will be used to satisfy existing and future
share-based compensation awards.
Intertrust Employee Benefit Trustee Limited, as trustee of the
EBT, will, at its discretion, make market purchases which will be
limited in value terms to an aggregate of GBP500,000 (exclusive of
costs) in total under the Programme. The Programme will remain in
operation until 30 September 2023, unless extended.
Ends.
For further information, please contact:
OnTheMarket 0207 353 4200
Jason Tebb, Chief Executive Officer
Simon Bullock, Interim Chief Financial Officer
Tom Carter, Chief Financial Officer
Teneo 0207 353 4200
Giles Kernick
Alec Tidbury
Zeus Capital (Nominated Adviser/Joint Broker) 0203 823 5000
Jamie Peel, Martin Green, James Hornigold
(Investment Banking)
Benjamin Robertson (Corporate 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.
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 'Only With Us' properties
which are either exclusive properties advertised at onthemarket.com
by customers who do not list their properties with either Rightmove
or Zoopla, or properties listed 24 hours or more before agents
release these properties to Rightmove or Zoopla.
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