Last checked at 22 Mar 2024 15:10
22 March 2024
Ondo InsurTech plc
("Ondo" or "the Company")
Exercise of Options
Ondo InsurTech plc (LSE: ONDO), a leading company in water leak prevention technology, announces that it has received notification from an employee to exercise options over 145,401 ordinary shares of 5 pence each in the capital of the Company ("New Ordinary Shares").
Applications have been made to the Financial Conduct Authority ("FCA") and to the London Stock Exchange for the New Ordinary Shares to be admitted to the Standard segment of the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities respectively ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 26 March 2024. The New Ordinary Shares shall rank pari passu in all respects with the Company's existing ordinary shares.
Total Voting Rights
Following Admission, the enlarged issued share capital of the Company will comprise 86,694,763 ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares"), with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 86,694,763.
The aforementioned figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries
For further information, please visit www.ondoplc.com or contact the following:
Ondo InsurTech Plc | Craig Foster, CEO Kevin Withington, CFO
| +44 (0) 800 783 9866 |
Dowgate Capital Limited (Broker & Financial Advisor) | Russell Cook Nicholas Chambers Charlie Hall
| +44 (0) 20 3903 7715
|
Cassiopeia Services Limited (PR & Investor Relations) | Stefania Barbaglio | +44 (0) 7949 690338
|
About Ondo InsurTech Plc
Ondo InsurTech Plc is a world leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. 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. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.
LeakBot partners with 16 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.
For more information, visit www.ondoplc.com