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OTMP Onthemarket Plc

109.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Onthemarket Plc LSE:OTMP London Ordinary Share GB00BFN3K335 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 109.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

OnTheMarket plc Andrews Property offices list at OnTheMarket.com

04/10/2018 7:00am

RNS Non-Regulatory


TIDMOTMP

OnTheMarket plc

04 October 2018

04 October, 2018

Leading South England agent Andrews Property Group signs long-term agreement for its 50+ offices to list at OnTheMarket.com

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce that leading South of England full-service agent Andrews has signed a long-term agreement to advertise its UK residential sales and lettings properties at OnTheMarket.com.

Under the long-term agreement, Andrews has also agreed actively to promote the OnTheMarket.com portal brand with digital and branch-based marketing activity. The agent operates a network of over 50 branches across the South of England, including Bath, Bristol and London.

David Westgate, Andrews Group Chief Executive, says: "We did not join OnTheMarket.com in its early days. However, we have closely watched its recent growth since its listing on AIM and we have been impressed by the undoubted momentum it has built amongst both agents and property-seekers. In a market where agents provide the portals with the majority of both their content and revenue, we are highly attracted by the agent-backed business model and are now very pleased to announce our support for OnTheMarket by committing to a long-term listing agreement."

Ian Springett, Chief Executive Officer of OnTheMarket plc, says: "We are thrilled to welcome Andrews to OnTheMarket and to have entered into a long-term contractual agreement. As an independent firm with a strong reputation for its quality of customer service and ethical standards, Andrews has achieved an enviable market share in the South of the UK and the firm will undoubtedly strengthen our position in the area with its property listings and positive support for our proposition."

ENDS

For further information, please contact:

   TB Cardew (Financial PR adviser)              0207 930 0777 / onthemarket@tbcardew.com 
   Ed Orlebar                                                      07738 724 630 
   Tom Allison                                                     07789 998 020 

Background about OnTheMarket:

Launched in January 2015, the OnTheMarket.com property portal was created by Agents' Mutual Limited, a company limited by guarantee and founded in January 2013 by a small group of agent firms, with the objective of creating a new portal to challenge the dominance of Rightmove and Zoopla.

Both groups were felt to be using their strong positions relative to their agent customers to impose significant price increases for their portal services. The Agents' Mutual proposition of an agent-backed portal offering 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 firms funded the venture by way of loan note subscriptions and committed to list with the portal once it went live. OnTheMarket is the third biggest UK residential property portal provider in terms of traffic. OnTheMarket plc was admitted to AIM on Friday 9 February 2018 alongside a capital raise of GBP30 million to support a new growth strategy for the business.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

NRAFSLFMDFASESS

(END) Dow Jones Newswires

October 04, 2018 02:00 ET (06:00 GMT)

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