Sign In
Last checked at 
1 Feb 2023 07:00
1st February 2023
Ondo InsurTech Plc
("Ondo" or "the Company")
Ā
Director / PDMR Dealing
Ā
Ā
Ondo InsurTech Plc (LON: ONDO) - the insurtech company which aims to be the leading provider of claims prevention technology for home insurers - announces that it has been notified on 31st January 2023 of two share purchases by Directors of the Company
Ā
Ā
Kevin Withington, an Executive Director and Chief Financial Officer of the Company, purchased a total of 166,666 ordinary shares in the Company ("Ordinary Shares") at a price of six pence per Ordinary Share. Following the transaction Mr. Withington is now interested in 166,666 ordinary shares, representing 0.24 per cent of Ondo's issued ordinary share capital.
Ā
Ā
Additionally, the Company has also been notified that on the same date Andy Morrison, a Non-Executive Director of the Company, purchased a total of 400,000 ordinary shares in the Company at a price of six pence per Ordinary Share. Following the transaction Mr. Morrison is now interested in 3,400,000 ordinary shares, representing 4.99 per cent of Ondo's issued ordinary share capital.
Ā
Ā
The notification below, which is made in accordance with the Market Abuse Regulation, provides further details.
Ā
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.
Ā
Enquiries
For further information, please visit www.ondoplc.com or contact the following:Ā
Ondo InsurTech Plc Craig Foster, Chief Executive Office Ā | Ā +44 (0) 800 783 9866 |
Broker SI Capital Ltd Jon Levinson | Ā +44 (0) 20 3143 0600 |
Public & Investor Relations Cassiopeia Services Ltd Stefania Barbaglio | Ā Ā +44 (0) 7949 690338 |
Ā
About Ondo InsurTech Plc
Ondo InsurTech Plc is a leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - an end-to-end internet of things solution which protects homes from the impact of water damage. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.
LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA.Ā
In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO).
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Kevin Withington | ||||||
2 | Reason for notification | |||||||
a) | Position/Status | Chief Financial Officer | ||||||
b) | Initial notification/amendment | Initial notification Ā Ā | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Ondo InsurTech Plc Ā Ā | ||||||
b) | LEI | 2138005Y5QBJQMOOI719 | ||||||
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 transactions have been conducted Ā | |||||||
a) | Description of the financial instrument, type of instrument and identification code | Ordinary shares of 5 pence each Ā ISIN: GB00BNVVGD77 Ā Ā | ||||||
b) | Nature of transaction | Purchase of ordinary shares Ā Ā | ||||||
c) | Price(s) and volume(s) |
Ā Ā | ||||||
d) | Aggregated information | 6 pence x 166,666 Ā | ||||||
e) | Date of transaction | 31st January 2023 Ā | ||||||
f) | Place of transaction | London Stock Exchange, Main Market (XLON) Ā | ||||||
Ā
Ā
Ā
Ā
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Andy Morrison | ||||||
2 | Reason for notification | |||||||
a) | Position/Status | Non Executive Director | ||||||
b) | Initial notification/amendment | Initial notification Ā Ā | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Ondo InsurTech Plc Ā Ā | ||||||
b) | LEI | 2138005Y5QBJQMOOI719 | ||||||
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 transactions have been conducted Ā | |||||||
a) | Description of the financial instrument, type of instrument and identification code | Ordinary shares of 5 pence each Ā ISIN: GB00BNVVGD77 Ā Ā | ||||||
b) | Nature of transaction | Purchase of ordinary shares Ā Ā | ||||||
c) | Price(s) and volume(s) |
Ā Ā | ||||||
d) | Aggregated information | 6 pence x 400,000 Ā | ||||||
e) | Date of transaction | 31st January 2023 Ā | ||||||
f) | Place of transaction | London Stock Exchange, Main Market (XLON) Ā | ||||||
Ā
Ā
Follow the stocks
