OnTheMarket plc Notice of General Meeting (9374J)
May 03 2022 - 2:02AM
UK Regulatory
TIDMOTMP
RNS Number : 9374J
OnTheMarket plc
03 May 2022
3 May 2022
ONTHEMARKET PLC
("OnTheMarket", the "Group" or the "Company")
Notice of General Meeting
OnTheMarket plc, the majority agent-owned company which operates
the OnTheMarket.com property portal, today announces that a General
Meeting of the Company will be held at 33 St James's Square, London
SW1Y 4JS on 26 May 2022 at 2pm.
The General Meeting is being held to seek shareholder approval
for a proposed cancellation of capital that, if approved by
shareholders at the General Meeting and by the courts, would create
additional distributable reserves within the Company. These
additional distributable reserves would provide the Company with
greater flexibility to pay dividends to shareholders and/or
introduce a share buyback programme, should the Board consider it
appropriate in the future.
Hard copies of a circular outlining the proposal and the actions
required will be posted today to shareholders who elected to
receive these. Electronic copies are available on the Company's
website at https://plc.onthemarket.com within the Investors
section. The expected timetable in relation to the proposal is:
Latest time and date for receipt of Forms of Proxy 14:00 on 24 May
or CREST Proxy Instruction: 2022
Date of General Meeting: 14:00 on 26 May
2022
Expected date for final hearing and confirmation 21 June 2022
of the cancellation by the Court:
Expected date that the cancellation becomes effective: 7 July 2022
ENDS
For further information, please contact:
OnTheMarket
Clive Beattie, Chief Financial Officer 0207 353 4200
Tulchan Communications
Giles Kernick
Oliver Norgate 0207 353 4200
Zeus (Nominated Adviser and Joint Broker)
Jamie Peel, Martin Green, James Hornigold 0203 829 5000
(Investment Banking)
Benjamin Robertson (Corporate Broking)
S hore 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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END
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