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Technology
Size
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Market Cap £74.3m
Enterprise Value £65.9m
Revenue £18.8m
Position in Universe 1030th / 1819

OnTheMarket plc - OnTheMarket appoints new Non-Executive Director

Thu 27th February, 2020 7:00am
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RNS Number : 2750E  OnTheMarket plc  27 February 2020

27 February 2020

 

OnTheMarket announces appointment of Rupert Sebag-Montefiore as Non-Executive
Director

 

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com
(http://onthemarket.com) property portal, is pleased to announce the
appointment of Rupert Sebag-Montefiore to its Board of Directors as
independent Non-Executive Director with immediate effect. He will also serve
as chairman of the Remuneration Committee.

 

Rupert Sebag-Montefiore has extensive Board experience at both listed and
private companies. He is currently a Non-Executive Director at Clarion Housing
Association (the UK's largest housing association) and Pigeon Land Limited (a
development land promotion company).  Prior to this he was on the Savills plc
main Board, followed by the Group Executive Board, for 21 years.  His roles
included CEO of Savills' principal UK subsidiary for 12 years and Head of
Global Residential.

He has also previously served as Non-Executive Chairman of Fastcrop plc, which
operated the property web portal PrimeLocation, as Non-Executive Director of
Adventis, a marketing company, during its flotation on AIM, and as Chairman of
the Finance Committee for a university. Rupert now sits on a number of
external investment committees, including Christ Church College at the
University of Oxford, is a Trustee of the Orchestra of the Age of
Enlightenment and chairs the property companies for the private office of a
European family.

Commenting on the appointment of Rupert Sebag-Montefiore, OnTheMarket
Non-Executive Chairman Chris Bell said:

"I am delighted that Rupert has agreed to join the Board of OnTheMarket.
Rupert has extensive executive and non-executive experience in and beyond the
UK property sector. In addition to his illustrious career at Savills, he was
Chairman of the PrimeLocation portal business and he has considerable Board
Committee expertise. He brings a deep understanding of the property market in
general and an invaluable insight into the perspective of estate agents and
housebuilders in particular. We greatly look forward to working with him as we
continue to build the UK's agent-backed property portal."

Commenting on his appointment as Non-Executive Director, Rupert
Sebag-Montefiore said:

"It is with great pleasure that I join the Board of OnTheMarket at such an
exciting and important phase in its development. I have watched the business
grow from a concept to a serious market player in the UK portals sector. I
look forward to supporting an entrepreneurial and seasoned leadership team in
achieving its growth objectives in the interests of shareholders, customers
and property-seekers alike."

Further information in accordance with the AIM Rules

The names of all companies of which Rupert Owen Sebag-Montefiore (66) is or
has been a director at any time in the previous five years are set out below.

 Current directorships and partnerships        Past directorships and partnerships

 Clarion Housing Group Ltd                     Chesterfield & Co. (Rentals) Ltd

 Corrour Lands Ltd                             Hepher Dixon Ltd

 Latimer Developments Ltd                      Holden Matthews Estate Agents Ltd

 Orchestra of the Age of Enlightenment Trust   Libra Housing Advisory Services Ltd

 Pentridge Consulting Ltd                      PCA Holdings Ltd

 Pigeon Land 2 Ltd                             PCA Management Consultants Ltd

 Pigeon Land Ltd                               Penhurst Properties Ltd

 The Corrour Property Company                  Penhurst (Investments) Ltd

                                               Playhouse Services Ltd

                                               Prime Purchase Ltd

                                               Rickitt Grant & Company Ltd

                                               Savills Advisory Services (L&P) Ltd

                                               Savills Telecom Ltd

                                               Smiths Gore Ltd

                                               Smith Woolley Ltd

                                               The London Planning Practice Ltd

                                               Wellington Holdings Ltd

                                               Wiltshire Creative

There are no other disclosures required to be announced further to paragraph
(g) of Schedule 2 to the AIM Rules.

ENDS

For further information, please contact:

 OnTheMarket                                      0207 930 0777

 Ian Springett, CEO

 Clive Beattie, CFO

 TB Cardew (Financial PR adviser)                 0207 930 0777 / onthemarket@tbcardew.com (mailto:onthemarket@tbcardew.com)

 Ed Orlebar                                       07738 724 630

 Alycia MacAskill                                 07876 222 703

 Zeus Capital (Nominated Adviser/Joint Broker)    0203 829 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 the third biggest UK residential property portal provider
in terms of traffic.

It aims to deliver a market-leading, agent-backed alternative to Rightmove and
Zoopla, offering a first-class service to agents at sustainably fair prices
and becoming the go-to portal for serious property-seekers.

OnTheMarket plc was admitted to AIM in February 2018 with £30 million in new
capital in order to support a new growth strategy for the business.

At its IPO, OnTheMarket was 70% owned by over 2,000 agent firms. Following the
share issuance arising from its growth in long term agent listing contracts,
over 3,000 agent firms operating more than 6,000 UK agency branches are now
OnTheMarket shareholders.

With backing from its agent owners, OnTheMarket has developed unique sources
of competitive advantage such as the thousands of "New & exclusive"
property listings it receives every month from its agents to display 24 hours
or more before they are on Rightmove or Zoopla.

 

 

 

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