31 Jan 2020 07:00
31 January 2020
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
Issue of Equity and Total Voting Rights
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, today announces that an application has been made to the London Stock Exchange for admission of securities in respect of 407,547 ordinary shares of 0.2 pence each ("New Ordinary Shares").
These New Ordinary Shares have been issued to certain new and existing agents following them having earlier signed new long-term listing agreements in accordance with the strategy set out in the admission document published on 26 January 2018. It is expected that admission will become effective on 5 February 2020.
Following admission, the total number of ordinary shares and voting rights in the Company will be 70,082,638. The Company does not hold any shares in treasury.
The above 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 to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
ENDS
For further information, please contact:
OnTheMarket Ian Springett, CEO Clive Beattie, CFO | 0207 930 0777 |
TB Cardew (Financial PR adviser) Ed Orlebar Alycia MacAskill |
0207 930 0777 / onthemarket@tbcardew.com 07738 724 630 07876 222 703 |
Zeus Capital (Nominated Adviser/Joint Broker) Jamie Peel, Martin Green, Daniel Harris (Corporate Finance) John Goold, Benjamin Robertson (Broking)
Shore Capital (Joint Broker) Daniel Bush Fiona Conroy |
0203 829 5000
0207 408 4090 |
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.