Update on Issue of Equity and Total Voting Rights

OnTheMarket

28/07/2022 15:00

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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 (https://www.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                                  0207 353 4200

 Clive Beattie, Chief Financial Officer

 Tulchan Communications                       0207 353 4200

 Giles Kernick

 Oliver Norgate

 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)   0207 408 4090

 Fiona Conroy (Corporate Broking)

 

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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