Ondo InsurTech PLC Share Incentive Plan Purchase

RNS Number : 8643G

Ondo InsurTech PLC

03 October 2024

 

3 October 2024

 

Ondo InsurTech Plc

("Ondo" or the "Company")

 

Share Incentive Plan Purchase

 

Director/PDMR Shareholding

 

Ondo InsurTech Plc (LSE: ONDO), a leading company in claims prevention technology for home insurers, received notification on 1 October 2024 from Fiduchi Trustees Limited (UK) (the "SIP Trustee") in relation to the purchase of 31,700 Ondo ordinary shares of 5p each ("Ordinary Shares")  for the benefit of participants of the Ondo Share Incentive Plan (the "SIP"), which includes Craig Foster and Kevin Withington, both Directors of the Company, outlined below in accordance with the rules of the SIP (the "SIP Award").

 

The SIP is an all-employee trust arrangement approved by HM Revenue and Customs, under which each participating employee will acquire Ordinary Shares at the prevailing market price per share using contributions deducted from pre-tax salary in each calendar month ("Partnership Shares"), with each participating employee being awarded one Ordinary Share for each Partnership Share ("Matching Shares") also acquired by the SIP.

 

Details of the number of Partnership Shares purchased by each of the Directors at a price of 14.0 pence per Ordinary Share, and the number of Matching Shares allocated by the SIP Trustee to the participants for no consideration, is set out against their names in the table below.

 

Name	Title	Number of Partnership Shares	Number of Matching Shares	Total resulting beneficial holding	Percentage resulting beneficial holding
Craig Foster	Chief Executive Officer	1,071	1,071	1,988,866	1.71%
Kevin Withington	Chief Financial Officer	1,071	1,071	292,380	0.25%

 

 

 

Enquiries

 

For further information, please visit www.ondoplc.com  or contact the following:

 

Ondo InsurTech Plc	Craig Foster, CEO Kevin Withington, CFO	[phone]
Dowgate Capital Ltd (Broker & Financial Advisor)	Russell Cook Nick Chambers Charlie Hall	[phone]
Cassiopeia Services Ltd (PR & Investor Relations)	Stefania Barbaglio	[phone]

 

 

About Ondo InsurTech PLC

 

Ondo is a world leading provider of claims prevention technology for home insurers.  Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.

 

LeakBot partners with 19 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.

 

Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.

 

For more information, visit www.ondoplc.com

 

 

The information set out below is provided in accordance with the requirements of Article 19 of the Market Abuse Regulations.

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Craig Foster
2	Reason for the notification
a)	Position/status	Chief Executive Officer and PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ondo InsurTech Plc
b)	LEI	2138005Y5QBJQMOOI719
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument   Identification code	Ordinary shares of 5 pence each   ISIN: GB00BNVVGD77
b)	Nature of the transaction	Purchase and allocation of Partnership and Matching Shares (no consideration), respectively, under the Ondo SIP.
c)	Price(s) and volume(s)	Prices   Volumes 14.0p nil 1,071 1,071
d)	Aggregated information	Prices   Aggregated volume 7.0p 2,142
e)	Date of the transaction	1 October 2024
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

 

 

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kevin Withington
2	Reason for the notification
a)	Position/status	Chief Financial Officer and PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ondo InsurTech Plc
b)	LEI	2138005Y5QBJQMOOI719
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument   Identification code	Ordinary shares of 5 pence each   ISIN: GB00BNVVGD77
b)	Nature of the transaction	Purchase and allocation of Partnership and Matching Shares (no consideration), respectively, under the Ondo SIP.
c)	Price(s) and volume(s)	Prices   Volumes 14.0p nil 1,071 1,071
d)	Aggregated information	Prices   Aggregated volume 7.0p 2,142
e)	Date of the transaction	1 October 2024
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

 

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