13 Mar 2020 07:00
None of the information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, nor does it contain any information that is required to be announced via a Regulatory Information Service under the AIM Rules for Companies.
13 March 2020
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
SETTLEMENT OF LITIGATION
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce that an agreed out of court settlement has been concluded between Agents' Mutual Limited and Gascoigne Halman Limited and Connells Limited.
The agreement, the terms of which are confidential, ends all litigation proceedings between the parties.
ENDS
For further information, please contact:
OnTheMarket 0207 353 4200
Christopher Bell, Chairman
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
Fiona Conroy
Background on OnTheMarket:
OnTheMarket plc, the agent-backed 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 thousands of "New & exclusive" properties every month to serious property-seekers 24 hours or more before agents release these properties to other portals.