11 Sep 2020 07:00
11 September 2020
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 options yesterday over 404,762 ordinary shares of £0.002 in the Company ("Ordinary Shares").
PDMR | Position | Type of Award | Number of Ordinary Shares over which options awarded |
Clive Beattie | Chief Financial Officer and Acting Chief Executive Officer | LTIP | 404,762 |
119,048 options vest on 1 February 2023 and the remaining 285,714 on 10 September 2023, with the latter also having a further 2 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 based on the total shareholder return achieved by the Company relative to the FTSE Aim 100 Index in the three years until the relevant vesting date.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation, and set out more details of the transactions.
1. | Details of PDMR | |
(a) | Name | 1. Clive Beattie
|
2. | Reason for notification | |
(b) | Position / status | 1. Chief Financial Officer and Acting Chief Executive Officer
|
(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 to acquire Shares pursuant to the Company's Long Term Investment Plan |
(c) | Price(s) and volume | Option price nil, volume 404,762 options |
(d) | Aggregated information | N/A |
(e) | Date of the transaction | 10 September 2020 |
(f) | Place of the transaction | Outside a trading venue |
ENDS
For further information, please contact:
OnTheMarket 0207 353 4200
Clive Beattie, Acting Chief Executive Officer
Tulchan Communications 0207 353 4200
James Macey White
Giles Kernick
Sophie Duckworth
Zeus Capital (Nominated Adviser/Joint Broker) 0203 823 5000
Jamie Peel, Martin Green, Daniel Harris
(Corporate Finance)
John Goold, Benjamin Robertson (Broking)
Shore Capital (Joint Broker) 0207 408 4090
Daniel Bush, John More (Corporate Finance)
Fiona Conroy (Corporate Broking)
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.
With over 3,000 estate and letting agent shareholders, operating over 6,000 offices, 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 "New & exclusive" properties to serious property-seekers 24 hours or more before agents release these properties to other portals.