EBT share purchase programme

OnTheMarket plc

10 July 2023

 

10 July 2023

ONTHEMARKET PLC

("OnTheMarket", the "Group" or the "Company")

EBT share purchase programme

On 3 July 2023 the Board of OnTheMarket plc (AIM: OTMP), submitted a letter of wishes to the OnTheMarket Employee Benefit Trust ("EBT"). The letter requested that the trustees commence a market purchase programme of ordinary shares of 0.2 pence each in OnTheMarket plc (Ordinary Shares) with effect from 10 July 2023 (the "Programme"). The request also set out certain parameters within which the Programme should be conducted, including a price cap and daily and weekly volume limits. The Company has made funds available to the EBT to facilitate the Programme. Ordinary Shares purchased by the EBT will be used to satisfy existing and future share-based compensation awards.

Intertrust Employee Benefit Trustee Limited, as trustee of the EBT, will, at its discretion, make market purchases which will be limited in value terms to an aggregate of £500,000 (exclusive of costs) in total under the Programme. The Programme will remain in operation until 30 September 2023, unless extended.

Ends.

For further information, please contact:

OnTheMarket                                                                                        0207 353 4200

Jason Tebb, Chief Executive Officer

Simon Bullock, Interim Chief Financial Officer

Tom Carter, Chief Financial Officer

Teneo                                                                                                   0207 353 4200

Giles Kernick

Alec Tidbury

Zeus Capital (Nominated Adviser/Joint Broker)                                0203 823 5000

Jamie Peel, Martin Green, James Hornigold

(Investment Banking)

Benjamin Robertson (Corporate Broking)  

Shore Capital (Joint Broker)                                                                 0207 408 4090

Daniel Bush, John More (Corporate Finance)

Fiona Conroy (Corporate Broking)

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.

 

END