OnTheMarket plc Grant of options (7806G)
July 21 2023 - 2:40AM
UK Regulatory
TIDMOTMP
RNS Number : 7806G
OnTheMarket plc
21 July 2023
21 July 2023
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 the
following options yesterday over 3,010,484 ordinary shares of
GBP0.002 in the Company ("Ordinary Shares"):
PDMR Position Type Number of Ordinary
of Award Shares over which
options awarded
Jason Tebb Chief Executive Officer DBP 103,116
--------------------------------- ----------- -------------------
Helen Whiteley Chief Commercial Officer DBP 76,039
--------------------------------- ----------- -------------------
Tom Carter Chief Financial Officer DBP nil
--------------------------------- ----------- -------------------
Morgan Ross Product and Technology Director DBP 70,475
--------------------------------- ----------- -------------------
The options vest in two equal tranches on 20 July 2025 and 20
July 2026, before exercise is possible. All the options have a nil
exercise price and require continued employment, subject to
exceptions.
PDMR Position Type Number of Ordinary
of Award Shares over which
options awarded
Jason Tebb Chief Executive Officer LTIP 812,315
--------------------------------- ----------- -------------------
Helen Whiteley Chief Commercial Officer LTIP 398,739
--------------------------------- ----------- -------------------
Tom Carter Chief Financial Officer LTIP 645,883
--------------------------------- ----------- -------------------
Morgan Ross Product and Technology Director LTIP 352,374
--------------------------------- ----------- -------------------
The options vest on 20 July 2026, with a further two 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 measured at the end of the performance
period by the Board determining the Company's CAGR total
shareholder return (TSR) performance.
PDMR Position Type Number of Ordinary
of Award Shares over which
options awarded
Jason Tebb Chief Executive Officer One-Off 551,543
------------------------- ----------- -------------------
The options vest on 20 July 2026, with a further two year
holding period following the vesting date before exercise is
possible. All the options have a nil exercise price.
This award is retention-focused and as such have no formal
pre-vesting performance criteria other than continued employment
within the Company.
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse Regulation as part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
and set out more details of the transactions.
1. Details of PDMR
(a) Name 1. Jason Tebb
2. Helen Whiteley
3. Tom Carter
4. Morgan Ross
-------------------------- ---------------------------------------------------------
2. Reason for notification
-------------------------------------------------------------------------------------
(b) Position / status 1. Chief Executive Officer
2. Chief Commercial Officer
3. Chief Financial Officer
4. Product and Technology Director
-------------------------- ---------------------------------------------------------
(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 under the Deferred Benefit
and the Long Term Incentive Plan
-------------------------- ---------------------------------------------------------
(c) Price(s) and volume Option price nil, volume 3,010,484 options
as follows:
1. Chief Executive Officer 1,466,974
2. Chief Commercial Officer 474,778
3. Chief Financial Officer 645,883
4. Product and Technology Director 422,849
-------------------------- ---------------------------------------------------------
(d) Aggregated information N/A
-------------------------- ---------------------------------------------------------
(e) Date of the transaction 20 July 2023
-------------------------- ---------------------------------------------------------
(f) Place of the transaction Outside a trading venue
-------------------------- ---------------------------------------------------------
ENDS
For further information, please contact:
OnTheMarket
Jason Tebb, Chief Executive Officer
Simon Bullock, Interim Chief Financial Officer 0207 353
Tom Carter, Chief Financial Officer 4200
Teneo
Giles Kernick 0207 353
Alec Tidbury 4200
0203 829
Zeus (Nominated Adviser and Joint Broker) 5000
Jamie Peel, Martin Green, James Hornigold (Investment
Banking)
Benjamin Robertson (Corporate Broking)
Shore Capital (Joint Broker)
Daniel Bush, John More (Corporate Finance) 0207 408
Fiona Conroy (Corporate Broking) 4090
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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END
DSHUAONRONUBURR
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