21 Jul 2023 07:40
21 July 2023
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
Grant of options
OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, announces that it granted the following options yesterday over 3,010,484 ordinary shares of £0.002 in the Company ("Ordinary Shares"):
PDMR | Position | Type of Award | Number of Ordinary Shares over which options awarded |
Jason Tebb | Chief Executive Officer | DBP | 103,116 |
Helen Whiteley | Chief Commercial Officer | DBP | 76,039 |
Tom Carter | Chief Financial Officer | DBP | nil |
Morgan Ross | Product and Technology Director | DBP | 70,475 |
The options vest in two equal tranches on 20 July 2025 and 20 July 2026, before exercise is possible. All the options have a nil exercise price and require continued employment, subject to exceptions.
PDMR | Position | Type of Award | Number of Ordinary Shares over which options awarded |
Jason Tebb | Chief Executive Officer | LTIP | 812,315 |
Helen Whiteley | Chief Commercial Officer | LTIP | 398,739 |
Tom Carter | Chief Financial Officer | LTIP | 645,883 |
Morgan Ross | Product and Technology Director | LTIP | 352,374 |
The options vest on 20 July 2026, with a further two year holding period following the vesting date before exercise is possible. All the options have a nil exercise price and are subject to performance conditions measured at the end of the performance period by the Board determining the Company's CAGR total shareholder return (TSR) performance.
PDMR | Position | Type of Award | Number of Ordinary Shares over which options awarded |
Jason Tebb | Chief Executive Officer | One-Off | 551,543 |
The options vest on 20 July 2026, with a further two year holding period following the vesting date before exercise is possible. All the options have a nil exercise price.
This award is retention-focused and as such have no formal pre-vesting performance criteria other than continued employment within the Company.
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. Tom Carter 4. Morgan Ross
|
2. | Reason for notification | |
(b) | Position / status | 1. Chief Executive Officer 2. Chief Commercial Officer 3. Chief Financial Officer 4. 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 3,010,484 options as follows: 1. Chief Executive Officer 1,466,974 2. Chief Commercial Officer 474,778 3. Chief Financial Officer 645,883 4. Product and Technology Director 422,849
|
(d) | Aggregated information | N/A |
(e) | Date of the transaction | 20 July 2023 |
(f) | Place of the transaction | Outside a trading venue |
ENDS
For further information, please contact:
OnTheMarket Jason Tebb, Chief Executive Officer Simon Bullock, Interim Chief Financial Officer Tom Carter, Chief Financial Officer | 0207 353 4200 |
Teneo Giles Kernick Alec Tidbury
|
0207 353 4200
|
Zeus (Nominated Adviser and 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.