OnTheMarket plc Update on previously awarded options (8708Q)
October 20 2023 - 12:35PM
UK Regulatory
TIDMOTMP
RNS Number : 8708Q
OnTheMarket plc
20 October 2023
20 October 2023
OnTheMarket plc
(the "Company")
Update on previously awarded options
On 21 July 2023, in an announcement titled "Grant of Options"
(the "Previous Announcement"), the Company announced the grant of
the options over an aggregate of 249,630 ordinary shares of
GBP0.002 in the Company pursuant to the Company's Deferred Bonus
Plan 2019 (the "Grant of Options").
Since this time the board of directors (the "Board") have become
aware that certain actions that were required to effect the Grant
of Options (namely the execution of a deed of grant ("Deed of
Grant")) had not been undertaken.
The Company announces that the Board has today executed the Deed
of Grant required to effect the Grant of Options.
It is noted that no further grant of options over ordinary
shares of GBP0.002 in the Company has been undertaken and only
remedial actions required to effect the Grant of Options described
in the Previous Announcement have been taken.
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.
Details of PDMR
1.
(a) Name 1. Jason Tebb
2. Helen Whiteley
3. Morgan Ross
-------------------------- -------------------------------------------------
Reason for notification
2.
-----------------------------------------------------------------------------
(b) Position / status 1. Chief Executive Officer
2. Chief Commercial Officer
3. Product and Technology Director
-------------------------- -------------------------------------------------
(c) Initial notification Initial notification in each case
/ amendment
-------------------------- -------------------------------------------------
Details of the Issuer
3.
-----------------------------------------------------------------------------
(a) Name OnTheMarket plc
-------------------------- -------------------------------------------------
(b) LEI 213800UNVSN2LXD4W113
-------------------------- -------------------------------------------------
Details of the transaction(s): section to be repeated
4. 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 Ordinary shares of 0.2p each in the capital
the 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 249,630 options
as follows:
1. Chief Executive Officer 103,116
2. Chief Commercial Officer 76,039
3. Product and Technology Director 70,475
-------------------------- -------------------------------------------------
(d) Aggregated information N/A
-------------------------- -------------------------------------------------
(e) Date of the transaction 20 October 2023
-------------------------- -------------------------------------------------
(f) Place of the transaction Outside a trading venue
-------------------------- -------------------------------------------------
For further information, please contact:
OnTheMarket
Jason Tebb, Chief Executive Officer
Tom Carter, Chief Financial Officer 0207 353 4200
Teneo (Financial PR Adviser) 0207 353 4200
Giles Kernick onthemarket@teneo.com
Barnaby Harrison
Zeus (Nominated Adviser/Joint Broker)
Jamie Peel, Martin Green, James Hornigold 0203 829 5000
(Investment Banking)
Benjamin Robertson (Corporate Broking)
Shore Capital (Joint Broker)
Daniel Bush, John More (Corporate Finance)
Fiona Conroy (Corporate Broking) 0207 408 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.
Further Information
Zeus Capital Limited ("Zeus"), which is authorised and regulated
in the United Kingdom by the FCA, is acting as nominated adviser
and joint corporate broker to OnTheMarket and no one else in
connection with the matters referred to in this announcement and
will not regard any other person as its client in relation to such
matters and will not be responsible to anyone other than
OnTheMarket for providing the protections afforded to clients of
Zeus, nor for providing advice in relation to any matter referred
to in this announcement. Neither Zeus nor any of its affiliates
owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Zeus in
connection with the matters referred to in this announcement, any
statement contained herein or otherwise.
Shore Capital and Corporate Limited and Shore Capital
Stockbrokers Limited (together or individually, "Shore Capital"),
which are authorised and regulated in the United Kingdom by the
FCA, are acting as joint corporate broker to OnTheMarket and no one
else in connection with the matters referred to in this
announcement and will not regard any other person as their client
in relation to such matters and will not be responsible to anyone
other than OnTheMarket for providing the protections afforded to
clients of Shore Capital, nor for providing advice in relation to
any matter referred to in this announcement. Neither Shore Capital
nor any of their affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is
not a client of Shore Capital in connection with the matters
referred to in this announcement, any statement contained herein or
otherwise.
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END
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