8 Apr 2019 07:00
08 April 2019
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 150,000 ordinary shares of 0.2 pence each ("New Ordinary Shares").
These New Ordinary Shares have been issued as a result of the exercise of employee share options. It is expected that admission will become effective on 11 April 2019.
Following admission, the total number of ordinary shares and voting rights in the Company will be 62,187,247. 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) Martin Green, Pippa Hamnett, Jamie Peel (Corporate Finance) Benjamin Robertson, John Goold (Broking)
Shore Capital (Joint Broker) Daniel Harris, Rose Ramsden |
0203 829 5000
0207 601 6100 |
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.
In January 2019, OnTheMarket delivered more than 7 times as many phone and email leads and 4 times the number of visits to its portal compared with February 2018, the month of the Company's admission to AIM. The portal's traffic in January exceeded 23.5 million visits*, a new monthly record.
At its IPO in February 2018, OnTheMarket was 70% owned by over two thousand agent firms.
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.
*Visits comprise individual sessions on OnTheMarket.com's web based portal or mobile applications by users for the period indicated as measured by Google Analytics. Data for leads generated is reported from the Company's operating systems.