Investors

Our investment case

1. Positive market dynamics

• We operate in a large fragmented market where there is strong structural shift to online property searches and lead generation
• Our majority agent-owned model is attractive with growing sentiment against other providers not aligned with agents’ interests
• Despite the short-term impact of COVID-19 on the UK housing market, market activity has rebounded strongly, with demand for homes exceeding supply, as consumers seek a larger property or a change in lifestyle

2. Strong agent ownership

• Strong market support from estate and letting agents through equity ownership – majority agent-owned
• Stable agent owner base, many on long-term contracts to 2023 and beyond
• Authorised to issue shares to agents alongside paying contracts – strengthen agent ownership and support

3. Growing customer offering

• Sustainably low, fair listing fees for agents with built-in caps in annual increases
• Continuously developing valuable products and services to better serve agents and consumers
• Seeking opportunities to invest in new technologies and partnerships to add value to agent and portal functionality
• Broadening offering to new advertiser segments

4. Strong management with a clear strategy for growth

• Strong, experienced Board and management team
• Good revenue visibility with 3-5yr agent contracts
• Strong operational focus on cost efficiencies and investment rigour
• Net cash position, no debt*
• Clearly articulated growth strategy to drive number of paying agents and new advertisers, increase portal visits and grow leads per agent

* Excluding deferred creditors

Further updates from OnTheMarket.

The Major Shareholders information was last updated on 13 October 2020.

Shares not in public hands

In terms of AIM Rules revised in March 2018 and insofar as it is aware, as at 31 July 2020, 47% of the Company’s AIM securities was not in public hands. There are no shares held in treasury

Statement of the Rights of Shareholders

The rights of shareholders are governed by UK law.

Restrictions in transfer of AIM securities

There are no restrictions on the transfer of the Company’s AIM securities.

Details of other exchanges or trading platforms

The Company has not applied or agreed to have any of its securities (including its ordinary shares) admitted or traded on any exchange or trading platform apart from AIM.

Shareholder meetings and circulars

2020 Notice of AGM

2020 Results of AGM