REG - OnTheMarket plc - Grant of options

OnTheMarketAnnouncement

21/07/2023 07:45

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RNS Number : 7806G  OnTheMarket plc  21 July 2023

21 July 2023

 

ONTHEMARKET PLC

 

("OnTheMarket", the "Group" or the "Company")

 

Grant of options

OnTheMarket plc, the majority agent-owned company which operates the
OnTheMarket.com (http://www.onthemarket.com) property portal, announces that
it granted the following options yesterday over 3,010,484 ordinary shares of
£0.002 in the Company ("Ordinary Shares"):

 

 PDMR            Position                         Type of Award  Number of Ordinary Shares over which options awarded
 Jason Tebb      Chief Executive Officer          DBP            103,116
 Helen Whiteley  Chief Commercial Officer         DBP            76,039
 Tom Carter      Chief Financial Officer          DBP            nil
 Morgan Ross     Product and Technology Director  DBP            70,475

 

The options vest in two equal tranches on 20 July 2025 and 20 July 2026,
before exercise is possible. All the options have a nil exercise price and
require continued employment, subject to exceptions.

 

 PDMR            Position                         Type of Award  Number of Ordinary Shares over which options awarded
 Jason Tebb      Chief Executive Officer          LTIP           812,315
 Helen Whiteley  Chief Commercial Officer         LTIP           398,739
 Tom Carter      Chief Financial Officer          LTIP           645,883
 Morgan Ross     Product and Technology Director  LTIP           352,374

 

The options vest on 20 July 2026, with a further two year holding period
following the vesting date before exercise is possible. All the options have a
nil exercise price and are subject to performance conditions measured at the
end of the performance period by the Board determining the Company's CAGR
total shareholder return (TSR) performance.

 

 PDMR        Position                 Type of Award  Number of Ordinary Shares over which options awarded
 Jason Tebb  Chief Executive Officer  One-Off        551,543

 

The options vest on 20 July 2026, with a further two year holding period
following the vesting date before exercise is possible. All the options have a
nil exercise price.

This award is retention-focused  and as such have no formal pre-vesting
performance criteria other than continued employment within the Company.

 

The notifications set out below are provided in accordance with the
requirements of the EU Market Abuse Regulation as part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 and set out more details of
the transactions.

 1.   Details of PDMR
 (a)  Name                                     1.            Jason Tebb

                                               2.            Helen Whiteley

                                               3.            Tom Carter

                                               4.            Morgan Ross

 2.   Reason for notification
 (b)  Position / status                        1.            Chief Executive Officer

                                               2.            Chief Commercial Officer

                                               3.            Chief Financial Officer

                                               4.            Product and Technology Director

 (c)  Initial notification / amendment         Initial notification in each case
 3.   Details of the Issuer
 (a)  Name                                     OnTheMarket plc
 (b)  LEI                                      213800UNVSN2LXD4W113

 4.   Details of the transaction(s): section to be repeated for (i) each type of
      instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transaction(s) have been conducted
 (a)  Description of the financial instrument  Ordinary shares of 0.2p each in the capital of the Company ("Shares")
 (b)  Nature of the transaction                Grant of options under the Deferred Benefit and the Long Term Incentive Plan
 (c)  Price(s) and volume                      Option price nil, volume 3,010,484 options as follows:

                                               1. Chief Executive Officer 1,466,974

                                               2. Chief Commercial Officer 474,778

                                               3. Chief Financial Officer 645,883

                                               4. Product and Technology Director 422,849

 (d)  Aggregated information                   N/A
 (e)  Date of the transaction                  20 July 2023
 (f)  Place of the transaction                 Outside a trading venue

 

 

ENDS

 

For further information, please contact:

 

 OnTheMarket                                                      0207 353 4200

 Jason Tebb, Chief Executive Officer

 Simon Bullock, Interim Chief Financial Officer

 Tom Carter, Chief Financial Officer

 Teneo                                                            0207 353 4200

 Giles Kernick

 Alec Tidbury

 Zeus (Nominated Adviser and Joint Broker)                        0203 829 5000

 Jamie Peel, Martin Green, James Hornigold (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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