Appointment of Joint Broker

RNS Number : 8129A

OnTheMarket plc

03 June 2019

 

3 June 2019

ONTHEMARKET PLC

("OnTheMarket" or the "Company")

Appointment of Joint Broker

OnTheMarket plc (AIM: OTMP), the agent-backed company which operates the OnTheMarket.com property portal, announces the appointment of Shore Capital Stockbrokers Limited as Joint Broker, with immediate effect. This follows the completion of the acquisition of Stockdale Securities Limited by Shore Capital Markets Limited.

ENDS

For further information, please contact:

OnTheMarket Ian Springett, CEO Clive Beattie, CFO	0207 930 0777
TB Cardew (Financial PR adviser) Ed Orlebar Alycia MacAskill	0207 930 0777 / [e-mail] 07738 724 630 07876 222 703
Zeus Capital (Nominated Adviser/Joint Broker) Martin Green, Pippa Hamnett, Jamie Peel (Corporate Finance) Benjamin Robertson, John Goold (Broking)    Shore Capital (Joint Broker) Daniel Harris, Rose Ramsden	0203 829 5000 0207 601 6100

 
Background on OnTheMarket:

OnTheMarket plc, the agent--backed company which operates the OnTheMarket.com property portal, is the third biggest UK residential property portal provider in terms of traffic. It aims to deliver a market--leading, agent--backed alternative to Rightmove and Zoopla, offering a first--class service to agents at sustainably fair prices and becoming the go--to portal for serious property--seekers.

OnTheMarket plc was admitted to AIM in February 2018 with £30 million in new capital in order to support a new growth strategy for the business.

In January 2019, OnTheMarket delivered more than 7 times as many phone and email leads and 4 times the number of visits to its portal compared with February 2018, the month of the Company's admission to AIM. The portal's traffic in January exceeded 23.5 million visits*, a new monthly record.

As at 8 April 2019, OnTheMarket.com had over one million people using its property alert service. To place this milestone in context, in its 2018 results announcement, Rightmove stated that 'over two million people' had received property alerts from it during the year.

At its IPO in February 2018, OnTheMarket was 70% owned by over two thousand agent firms.

With backing from its agent owners, OnTheMarket has developed unique sources of competitive advantage such as the thousands of "New & exclusive" property listings it receives every month from its agents to display 24 hours or more before they are on Rightmove or Zoopla.

*Visits comprise individual sessions on OnTheMarket.com's web based portal or mobile applications by users for the period indicated as measured by Google Analytics. Data for leads generated is reported from the Company's operating systems.

 

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