2 Dec 2022 07:00
2 December 2022
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 1,119,998 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 | LTIP | 575,172 |
Helen Whiteley | Chief Commercial Officer | LTIP | 282,758 |
Morgan Ross | Product and Technology Director | LTIP | 262,068 |
The options vest on 1 December 2025, 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 based on the total shareholder return achieved by the Company relative to the FTSE AIM 100 Index in the three years to the vesting date.
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. Morgan Ross
|
2. | Reason for notification | |
(b) | Position / status | 1. Chief Executive Officer 2. Chief Commercial Officer 3. 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 to acquire Shares pursuant to the Company's Long Term Investment Plan |
(c) | Price(s) and volume | Option price nil, volume 1,119,998 options as follows: 1. Chief Executive Officer 575,172 2. Chief Commercial Officer 282,758 3. Product and Technology Director 262,068 |
(d) | Aggregated information | N/A |
(e) | Date of the transaction | 1 December 2022 |
(f) | Place of the transaction | Outside a trading venue |
ENDS
For further information, please contact:
OnTheMarket 0207 353 4200
Clive Beattie, Chief Financial Officer
Tulchan Communications 0207 353 4200
Giles Kernick
Oliver Norgate
Zeus Capital (Nominated Adviser/Joint Broker) 0203 823 5000
Jamie Peel, Martin Green, James Hornigold
(Investment Banking)
Benjamin Robertson (Corporate 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.
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.