15 Jun 2018 07:00
15 June 2018
OnTheMarket plc
("OnTheMarket" or the "Company")
Notice of Annual General Meeting
OnTheMarket plc (AIM: OTMP), the agent-backed company which operates the OnTheMarket.com property portal, today announces that the Company's Annual General Meeting will be held at the offices of Eversheds Sutherland, 1 Wood Street, London EC2V 7WS on 11 July 2018 at 9:30 am.
Hard copies of the Company's Annual Report and Consolidated Financial Statements for the year ended 31 January 2018 (the "Annual Report") and the Notice of Annual General Meeting will be posted today to shareholders who elected to receive these. Electronic copies are available on the Company's website at https://plc.onthemarket.com within the Investors section.
For further information, please contact:
| |
OnTheMarket Ian Springett, CEO Clive Beattie, CFO | 0207 930 0777 |
TB Cardew (Financial PR adviser) Ed Orlebar Lucy Featherstone |
0207 930 0777 / onthemarket@tbcardew.com 07738 724 630 07789 374 663 |
Zeus Capital (Nominated Adviser/Joint Broker) Martin Green, Giles Balleny, Pippa Underwood (Corporate Finance) Benjamin Robertson, John Goold (Broking)
Stockdale Securities (Joint Broker) Daniel Harris, Owen Matthews |
0203 829 5000
0207 601 6100 |
Background on OnTheMarket:
Launched in January 2015, the OnTheMarket.com property portal was created by Agents' Mutual Limited, a company limited by guarantee and founded in January 2013 by a small group of agent firms, with the objective of creating a new portal to challenge the dominance of Rightmove and Zoopla. Both groups were felt to be using their strong positions relative to their agent customers to impose significant price increases for their portal services.
The Agents' Mutual proposition of an agent-backed portal offering a premier search service to property-seeking consumers whilst charging fair prices to agents quickly found support among a very wide group of leading independent agents across the UK. These firms funded the venture by way of loan note subscriptions and committed to list with the portal once it went live.
OnTheMarket is the third biggest UK residential property portal provider in terms of traffic and has, with backing from its agent owners, developed unique sources of competitive advantage such as the "New and Exclusive" property listings.
OnTheMarket plc was admitted to AIM on Friday 9 February 2018 alongside a capital raise of £30 million to support a new growth strategy for the business.