AIM Rule 26
This page contains all information which is required to be disclosed in accordance with Rule 26 of the AIM Rules
This information is not directed to, nor is it intended for, access by persons located or resident in the United States, Australia, Canada, South Africa, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.
Description of the business
The AIM-listed OnTheMarket plc is a leading UK property portal, majority-owned by estate and lettings agents, delivering a premier property search service through OnTheMarket.com.
The portal, launched in January 2015, was established and supported by leading UK estate and lettings agents as an alternative to other portal providers and is now firmly established as one of the largest portals in the UK residential property market in terms of visitor traffic.
The portal offers full functionality and value-adding services to agents at sustainably low pricing, providing growing customer leads to its expanding agents and new homes developers audience.
Agents’ Mutual was formed in January 2013 by several leading estate and lettings agents to create a new residential property portal as a challenger to the two existing major portal groups, Rightmove and Zoopla. It was the first major new entrant to the UK property portals market since 2008.
The Agents’ Mutual proposition, for an agent-owned portal which would offer a premier search service to consumers whilst charging fair prices to agents, quickly found support among a very wide group of leading independent agents across the UK. These agent firms were prepared to fund the venture by way of loan note subscriptions and to commit to list with the portal once it went live. The portal launched in January 2015 with the properties of 4,600 branches.
Through a Placing to investors on the AIM market, £30 million of new equity capital was raised to support a new growth strategy for the business. At Admission, over 2,000 agent firms owned approximately 70 per cent of the issued share capital.
Since Admission the Group has pursued a transformational growth strategy. The strength of agent support and the appeal of the search experience helped the brand generate 267 million visits in the year to 31 January 2021 and over 28 million in March 2021. This is the result of growth in property stock and growth in awareness.
As at 31 January 2021, the company had approximately 12,700 advertisers listed, comprising agency branches and new homes developments.
OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal. As at 31 May 2021, agent ownership stood at approximately 60%. Agent backing and support enable OnTheMarket to display “Only with us”* properties to serious property-seekers 24 hours or more before agents release these properties to other portals.
* See www.onthemarket.com/onlywithus . Agents specify exclusivity.
Names of Directors and biographical details
Responsibilities of the members of the Board
Country of incorporation and operation
OnTheMarket plc is incorporated in England and Wales with the registration number 10887621. The main country of operation is United Kingdom.
PO Box 450
155-157 High Street
Company registered in England & Wales, No. 10887621.
Current constitutional documents
Details of any other exchanges or trading platforms on which the AIM company has applied or agreed to have any of its securities (including its AIM securities) admitted or traded
The Company has not applied or agreed to have any of its securities (including its ordinary shares) admitted or traded on any other exchanges or trading platforms.
- Number of AIM securities in issue
- Significant shareholders
- Shares not in public hands
- Restriction in transfer of AIM Securities
- Shareholder Rights
See Regulatory news
UK City Code on Takeovers and mergers
The Company is subject to the UK City Code on Takeovers and Mergers.
Details of nominated adviser and other key advisers
The AIM Rule 26 information was updated on 9 December 2021