OnTheMarket appoints new Non-Executive Director

RNS Number : 2750E

OnTheMarket plc

27 February 2020

 

27 February 2020  

OnTheMarket announces appointment of Rupert Sebag-Montefiore as Non-Executive Director

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce the appointment of Rupert Sebag-Montefiore to its Board of Directors as independent Non-Executive Director with immediate effect. He will also serve as chairman of the Remuneration Committee.

Rupert Sebag-Montefiore has extensive Board experience at both listed and private companies. He is currently a Non-Executive Director at Clarion Housing Association (the UK's largest housing association) and Pigeon Land Limited (a development land promotion company).  Prior to this he was on the Savills plc main Board, followed by the Group Executive Board, for 21 years.  His roles included CEO of Savills' principal UK subsidiary for 12 years and Head of Global Residential.

He has also previously served as Non-Executive Chairman of Fastcrop plc, which operated the property web portal PrimeLocation, as Non-Executive Director of Adventis, a marketing company, during its flotation on AIM, and as Chairman of the Finance Committee for a university. Rupert now sits on a number of external investment committees, including Christ Church College at the University of Oxford, is a Trustee of the Orchestra of the Age of Enlightenment and chairs the property companies for the private office of a European family.

Commenting on the appointment of Rupert Sebag-Montefiore, OnTheMarket Non-Executive Chairman Chris Bell said:

"I am delighted that Rupert has agreed to join the Board of OnTheMarket. Rupert has extensive executive and non-executive experience in and beyond the UK property sector. In addition to his illustrious career at Savills, he was Chairman of the PrimeLocation portal business and he has considerable Board Committee expertise. He brings a deep understanding of the property market in general and an invaluable insight into the perspective of estate agents and housebuilders in particular. We greatly look forward to working with him as we continue to build the UK's agent-backed property portal."

Commenting on his appointment as Non-Executive Director, Rupert Sebag-Montefiore said:

"It is with great pleasure that I join the Board of OnTheMarket at such an exciting and important phase in its development. I have watched the business grow from a concept to a serious market player in the UK portals sector. I look forward to supporting an entrepreneurial and seasoned leadership team in achieving its growth objectives in the interests of shareholders, customers and property-seekers alike."

Further information in accordance with the AIM Rules

The names of all companies of which Rupert Owen Sebag-Montefiore (66) is or has been a director at any time in the previous five years are set out below.

Current directorships and partnerships

Past directorships and partnerships

Clarion Housing Group Ltd Corrour Lands Ltd Latimer Developments Ltd Orchestra of the Age of Enlightenment Trust Pentridge Consulting Ltd Pigeon Land 2 Ltd Pigeon Land Ltd The Corrour Property Company

Chesterfield & Co. (Rentals) Ltd Hepher Dixon Ltd Holden Matthews Estate Agents Ltd Libra Housing Advisory Services Ltd PCA Holdings Ltd PCA Management Consultants Ltd Penhurst Properties Ltd Penhurst (Investments) Ltd Playhouse Services Ltd Prime Purchase Ltd Rickitt Grant & Company Ltd Savills Advisory Services (L&P) Ltd Savills Telecom Ltd Smiths Gore Ltd Smith Woolley Ltd The London Planning Practice Ltd Wellington Holdings Ltd Wiltshire Creative

There are no other disclosures required to be announced further to paragraph (g) of Schedule 2 to the AIM Rules.

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) Jamie Peel, Martin Green, Daniel Harris (Corporate Finance) John Goold, Benjamin Robertson (Broking)	0203 829 5000
Shore Capital (Joint Broker) Daniel Bush Fiona Conroy	0207 408 4090

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.

At its IPO, OnTheMarket was 70% owned by over 2,000 agent firms. Following the share issuance arising from its growth in long term agent listing contracts, over 3,000 agent firms operating more than 6,000 UK agency branches are now OnTheMarket shareholders.

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.

 

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