Update on previously awarded options

OnTheMarket plc

20 October 2023

 

20 October 2023

OnTheMarket plc

(the "Company")

Update on previously awarded options

On 21 July 2023, in an announcement titled "Grant of Options" (the "Previous Announcement"), the Company announced  the grant of the options over an aggregate of 249,630 ordinary shares of £0.002 in the Company pursuant to the Company's Deferred Bonus Plan 2019 (the "Grant of Options").  

Since this time the board of directors (the "Board") have become aware that certain actions that were required to effect the Grant of Options (namely the execution of a deed of grant ("Deed of Grant")) had not been undertaken.  

The Company announces that the Board has today executed the Deed of Grant required to effect the Grant of Options.

It is noted that no further grant of options over ordinary shares of £0.002 in the Company has been undertaken and only remedial actions required to effect the Grant of Options described in the Previous Announcement have been taken.

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.            Morgan Ross
2.	Reason for notification
(b)	Position / status	1.            Chief Executive Officer 2.            Chief Commercial Officer 3.            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 249,630 options as follows: 1. Chief Executive Officer 103,116 2. Chief Commercial Officer 76,039 3. Product and Technology Director 70,475
(d)	Aggregated information	N/A
(e)	Date of the transaction	20 October 2023
(f)	Place of the transaction	Outside a trading venue

For further information, please contact:

OnTheMarket Jason Tebb, Chief Executive Officer Tom Carter, Chief Financial Officer	0207 353 4200
Teneo (Financial PR Adviser) Giles Kernick Barnaby Harrison	0207 353 4200 [e-mail]
Zeus (Nominated Adviser/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.

Further Information

Zeus Capital Limited ("Zeus"), which is authorised and regulated in the United Kingdom by the FCA, is acting as nominated adviser and joint corporate broker to OnTheMarket and no one else in connection with the matters referred to in this announcement and will not regard any other person as its client in relation to such matters and will not be responsible to anyone other than OnTheMarket for providing the protections afforded to clients of Zeus, nor for providing advice in relation to any matter referred to in this announcement. Neither Zeus nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Zeus in connection with the matters referred to in this announcement, any statement contained herein or otherwise.

Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited (together or individually, "Shore Capital"), which are authorised and regulated in the United Kingdom by the FCA, are acting as joint corporate broker to OnTheMarket and no one else in connection with the matters referred to in this announcement and will not regard any other person as their client in relation to such matters and will not be responsible to anyone other than OnTheMarket for providing the protections afforded to clients of Shore Capital, nor for providing advice in relation to any matter referred to in this announcement. Neither Shore Capital nor any of their affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Shore Capital in connection with the matters referred to in this announcement, any statement contained herein or otherwise.

 

END