Director/PDMR Dealing

RNS Number : 5167U

Ondo InsurTech PLC

01 August 2022

 

1^st August 2022

Ondo InsurTech Plc

(" Ondo " or "the Company")

Director/PDMR Dealing

Ondo InsurTech Plc (LON: ONDO), the insurtech company which aims to be the leading provider of claims prevention technology for home insurers, announces that it has been notified that on 1 August 2022 Andy Morrison, Non-Executive Director of the Company, purchased 29,829 ordinary shares in the Company ("Ordinary Shares") at a price of 5.95 pence per Ordinary Share.

Following this transaction Mr. Morrison is now interested in 3,000,000 Ordinary Shares, representing 4.4 per cent of Ondo's issued ordinary share capital.

The notification below, which is made in accordance with the Market Abuse Regulation, provides further details.

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.

Enquiries

For further information, please visit www.ondoplc.com   or contact the following: 

Ondo InsurTech Plc Craig Foster, Chief Executive Office	[phone]
Broker SI Capital Ltd Nick Emerson Jon Levinson	[phone] [phone]
Public & Investor Relations Cassiopeia Services Ltd Stefania Barbaglio	[phone]

About Ondo InsurTech Plc

Ondo InsurTech Plc is on a mission to become the world's leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - an end-to-end internet of things solution which protects homes from the impact of water damage.  Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined.  LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem.  Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.

LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA. 

In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO).

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Andrew Morrison
2	Reason for notification
a)	Position/Status	Non-Executive Director
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ondo InsurTech Plc
b)	LEI	213800WAVVOPS85N2205
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 transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Ordinary shares of 5 pence each ISIN: GB00BNVVGD77
b)	Nature of transaction	Purchase of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 5.95 pence 29,829
d)	Aggregated information	n/a
e)	Date of transaction	1 August 2022
f)	Place of transaction	London Stock Exchange, Main Market (XLON)

 

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