OTMP.L Regulatory News (OTMP)

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24 January 2020

Bellway to list its residential properties with OnTheMarket

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announces today that it has signed a listing agreement with Bellway plc, another of the UK's leading house builders.

Bellway plc has grown from a small family-owned firm to one of the most successful house builders in the UK and is a FTSE 250 company. It is now the UK's 4th largest house builder by volume and sold a record 10,892 new homes in its most recent financial year.

The Company provides a wide variety of homes at a range of price points across the UK.

Helen Whiteley, Commercial Director of OnTheMarket, said: "We are delighted that Bellway has decided to join us as we start the new year while we continue to broaden our property advertiser base and widen our appeal to active property-seekers.

"Bellway is a highly successful developer which is committed to addressing the growing national housing shortage by building high quality homes in desirable locations."

Sasha O'Neill, Group Head of Marketing at Bellway, said: "We like the clear and simple way in which OnTheMarket displays its properties and have watched it make real headway as a leading portal over the last two years.

"We are always looking for new ways to market our properties and finding new audiences who are serious about buying their next home. We look forward to entering this partnership with OnTheMarket and being part of its continued growth."

ENDS

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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.