Result of AGM

RNS Number : 7031F

OnTheMarket plc

16 July 2019

 

16 July 2019

OnTheMarket plc

 ("OnTheMarket" or the "Company")

Result of Annual General Meeting

OnTheMarket plc (AIM: OTMP), the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce that all resolutions as set out in the Notice of Annual General Meeting dated 21 June 2019 were duly passed today by the shareholders of the Company.

A copy of the proxy results for the Annual General Meeting will be available on the OnTheMarket plc website at plc.onthemarket.com/investors shortly.

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			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 May 2019, traffic to OnTheMarket.com reached a new monthly record of 25.4 million visits*. As an indication of strongly increasing consumer engagement with OnTheMarket.com, more than 1 million people were using the portal's property alerts service in May 2019. OnTheMarket sent over 100 million instant alert emails in May. To place this in context, in its 2018 results announcement, Rightmove reported that it had sent an average of 65 million instant alert emails per month 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.

 

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