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OnTheMarket PLC - Aldershot, Hampshire-based property listing website - Shareholders including Product & Technology Director Morgan Ross sell a total of 3.1 million shares, a 4.1% stake, at 76 pence per share, worth £2.4 million, on Thursday. Ross’s sale of 1.2 million shares follows his exercise of options for 1.4 million new shares. The other sellers are estate agents who list on the site. Their sale follows the end of a five-year lock-in agreement put in place at the time of OnTheMarket’s listing on AIM in 2018. The share placing is conducted as an accelerated bookbuild by Zeus Capital Ltd and Shore Capital Stockbrokers Ltd. ‘Agents are at the heart of everything we do, and we are pleased that an overwhelming majority of them have chosen to continue to support OnTheMarket and remain as shareholders for the next stage of our journey,’ says Chief Executive Officer Jason Tebb. ‘We continue to have a unique position as a majority agent-owned business and look forward to working with agents to continue to develop our offering in the future.’ Current stock price: 75.00p, down 3.2% on Thursday afternoon in London 12-month change: down 25% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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