OnTheMarket issues stock for new agents...

Breaking News

27 October 2022

5981 Reads
0 Comments

By Marc Shoffman

TODAY'S OTHER NEWS

OnTheMarket has issued 221,006 of ordinary shares to new agents who have signed up to the portal.

These shares are for agents signing new listing agreements for the first time.

The stockmarket update from OntheMarket, said: “An application has been made to the London Stock Exchange for admission of securities in respect of 221,006 ordinary shares of 0.2p each.

“It is expected that admission will become effective on 31 October 2022.

“The new ordinary shares have been issued to certain agents following them having earlier signed new long-term listing agreements in accordance with the strategy set out in the admission document published on 26 January 2018.”

Following admission, the total number of ordinary shares and voting rights in the company will be 75,344,332, the update said.

It comes as OnTheMarket separately secured contract renewals from several major agency brands who had backed its 2018 public listing.

These included These include Arun Estates, Knight Frank, Chestertons, Savills, Chancellors, Douglas & Gordon, Glentree Estates, Spicerhaart, Webbers and Carter Jonas.

The portal’s admission to the Alternative Investment Market AIM in February 2018 tied many of its agents into minimum terms until February 2023.https://www.investegate.co.uk/onthemarket-plc/rns/issue-of-equity/202210260700029181D/