Exercise of Options

Ondo InsurTech PLC

05 December 2024

 

5 December 2024

Ondo InsurTech plc

("Ondo" or "the Company")

Exercise of options

Total voting rights

Ondo InsurTech plc (LSE: ONDO), a leading company in water leak prevention technology, announces that it received notice of exercise in relation to employee share options over 129,918 ordinary shares of 5 pence each in the Company ("New Ordinary Shares").

In addition, 887,500 new Ordinary Shares (as defined below) have been issued pursuant to warrant exercises and these new Ordinary Shares were admitted to trading under the Company's blocklisting arrangement.

Applications have been made to the Financial Conduct Authority ("FCA") and to the London Stock Exchange for the New Ordinary Shares to be admitted to listing on the Equity Shares (Transition) Category of the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities respectively ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 11 December 2024. The New Ordinary Shares shall rank pari passu in all respects with the Company's existing Ordinary Shares.

Total voting rights

Following Admission, the enlarged issued share capital of the Company will comprise 118,076,787 ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares"), with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 118,076,787.

The aforementioned figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries

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

Ondo InsurTech Plc	Craig Foster, CEO Kevin Withington, CFO	[phone]
Dowgate Capital Limited (Broker & Financial Advisor)	Russell Cook Nicholas Chambers Charlie Hall	[phone]
Cassiopeia Services Limited (PR & Investor Relations)	Stefania Barbaglio	[phone]

About Ondo InsurTech plc

Ondo InsurTech plc is a world leading provider of claims prevention technology for home insurers.  Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. 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. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%. 

LeakBot partners with 21 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.

For more information, visit www.ondoplc.com

 

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