Grant of options

OnTheMarket plc

21 July 2023

 

21 July 2023

ONTHEMARKET PLC

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

Grant of options

OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, announces that it granted the following options yesterday over 3,010,484 ordinary shares of £0.002 in the Company ("Ordinary Shares"):

PDMR	Position	Type of Award	Number of Ordinary Shares over which options awarded
Jason Tebb	Chief Executive Officer	DBP	103,116
Helen Whiteley	Chief Commercial Officer	DBP	76,039
Tom Carter	Chief Financial Officer	DBP	nil
Morgan Ross	Product and Technology Director	DBP	70,475

The options vest in two equal tranches on 20 July 2025 and 20 July 2026, before exercise is possible. All the options have a nil exercise price and require continued employment, subject to exceptions.

PDMR	Position	Type of Award	Number of Ordinary Shares over which options awarded
Jason Tebb	Chief Executive Officer	LTIP	812,315
Helen Whiteley	Chief Commercial Officer	LTIP	398,739
Tom Carter	Chief Financial Officer	LTIP	645,883
Morgan Ross	Product and Technology Director	LTIP	352,374

The options vest on 20 July 2026, with a further two year holding period following the vesting date before exercise is possible. All the options have a nil exercise price and are subject to performance conditions measured at the end of the performance period by the Board determining the Company's CAGR total shareholder return (TSR) performance.

PDMR	Position	Type of Award	Number of Ordinary Shares over which options awarded
Jason Tebb	Chief Executive Officer	One-Off	551,543

The options vest on 20 July 2026, with a further two year holding period following the vesting date before exercise is possible. All the options have a nil exercise price.

This award is retention-focused  and as such have no formal pre-vesting performance criteria other than continued employment within the Company.

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.

1.	Details of PDMR
(a)	Name	1.            Jason Tebb 2.            Helen Whiteley 3.            Tom Carter 4.            Morgan Ross
2.	Reason for notification
(b)	Position / status	1.            Chief Executive Officer 2.            Chief Commercial Officer 3.            Chief Financial Officer 4.            Product and Technology Director
(c)	Initial notification / amendment	Initial notification in each case
3.	Details of the Issuer
(a)	Name	OnTheMarket plc
(b)	LEI	213800UNVSN2LXD4W113
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 transaction(s) have been conducted
(a)	Description of the financial instrument	Ordinary shares of 0.2p each in the capital 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 3,010,484 options as follows: 1. Chief Executive Officer 1,466,974 2. Chief Commercial Officer 474,778 3. Chief Financial Officer 645,883 4. Product and Technology Director 422,849
(d)	Aggregated information	N/A
(e)	Date of the transaction	20 July 2023
(f)	Place of the transaction	Outside a trading venue

ENDS

For further information, please contact:

OnTheMarket Jason Tebb, Chief Executive Officer Simon Bullock, Interim Chief Financial Officer Tom Carter, Chief Financial Officer	0207 353 4200
Teneo Giles Kernick Alec Tidbury	0207 353 4200
Zeus (Nominated Adviser and Joint Broker) Jamie Peel, Martin Green, James Hornigold (Investment Banking) Benjamin Robertson (Corporate Broking) Shore Capital (Joint Broker) Daniel Bush, John More (Corporate Finance) Fiona Conroy (Corporate Broking)	0203 829 5000 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.

 

END