REG - Ondo InsurTech PLC - Vendor Loan Note Restructuring

Ondo InsurTechAnnouncement

28/05/2026 07:00

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RNS Number : 9557F  Ondo InsurTech PLC  28 May 2026

The information contained in this announcement is deemed by the Company to
constitute Inside Information as stipulated under the Market Abuse Regulations
(Regulation 596/2014/EU) as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018

28 May 2026

Ondo InsurTech Plc

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

 

Vendor Loan Note Restructuring

Ondo InsurTech Plc (LSE: ONDO), a leading provider of claims prevention
technology for home insurers, is pleased to announce the rescheduling of
vendor loan notes issued by Ondo ("Loan Notes") to its largest shareholder,
HomeServe Assistance Limited ("HomeServe").

The Loan Notes form part of the consideration for the acquisition of the
LeakBot business from HomeServe as set out in the prospectus dated 21 March
2022.

The Loan Notes remain redeemable by Ondo at any time with 10 days' notice and
are rescheduled as follows:

·      Deferral of principal repayment of £1.6m due 31 March 2027 to 30
September 2028.

Given this adjustment, it was agreed that the interest rate would increase to
15% from 1 June 2026 and then to 17% from 31 March 2027.

As previously announced, the Group requires short term funding and the Board
is actively exploring a range of financing options, including by way of an
equity fundraising. Further announcements will be made in due course.

 

Mark Wood CBE, Executive Chairman of Ondo InsurTech Plc, says: "HomeServe
recognises the value of the LeakBot franchise in the USA, Scandinavia and the
UK. The rescheduling to September 2028 meaningfully strengthens our financial
position, as we work towards a comprehensive solution to our short-term
financing needs, ensuring we can continue to support rapid growth in each
region. We appreciate HomeServe's ongoing confidence in our future."

 

Enquiries

For further information, please visit (http://www.ondoplc.com/)
www.ondoplc.com (http://www.ondoplc.com/)   or contact the following:

 Ondo InsurTech Plc       Craig Foster, CEO        +44 (0) 800 783 9866

                          Kevin Withington, CFO
 Singer Capital Markets  Charles Leigh-Pemberton   +44 (0) 20 7496 3000

                         Jen Boorer                www.singercm.com (https://www.singercm.com)

                         James Todd

                         Anastassiya Eley

 

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