OnTheMarket plc Update on Issue of Equity and Total Voting Rights (1347U)
29 July 2022 - 12:00AM
UK Regulatory
TIDMOTMP
RNS Number : 1347U
OnTheMarket plc
28 July 2022
28 July 2022
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
Update on Issue of Equity and Total Voting Rights
OnTheMarket plc, the majority agent-owned company which operates
the OnTheMarket.com property portal, announces that further to the
Issue of Equity announcement released on 26 July 2022, the issue of
170,041 ordinary shares of 0.2 pence each ("New Ordinary Shares")
is to be delayed until further notice due to an unforeseen
interaction of the share issuance with the share premium account
cancellation process approved by shareholders at the general
meeting held on 26 May 2022. The Company anticipates that the
issuance of 170,041 New Ordinary Shares will still take place and
will confirm a revised timetable for the issuance in due
course.
As a result of the delay, the application made to the London
Stock Exchange for admission has been cancelled and issue and
admission of the New Ordinary Shares will not occur on the 29 July
2022.
As such, the total number of ordinary shares and voting rights
in the Company will remain unchanged at 74,953,285. 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
Clive Beattie, Chief Financial Officer 0207 353 4200
Tulchan Communications
Giles Kernick
Oliver Norgate 0207 353 4200
Zeus (Nominated Adviser and Joint Broker)
Jamie Peel, Martin Green, James Hornigold 0203 829 5000
(Investment Banking)
Benjamin Robertson (Corporate Broking)
Shore Capital (Joint Broker)
Daniel Bush, John More (Corporate Finance)
Fiona Conroy (Corporate Broking) 0207 408 4090
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.
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END
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