OnTheMarket plc OnTheMarket appoints new Non-Executive Director (2750E)

TIDMOTMP

RNS Number : 2750E

OnTheMarket plc

27 February 2020

27 February 2020

OnTheMarket announces appointment of Rupert Sebag-Montefiore as Non-Executive Director

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce the appointment of Rupert Sebag-Montefiore to its Board of Directors as independent Non-Executive Director with immediate effect. He will also serve as chairman of the Remuneration Committee.

Rupert Sebag-Montefiore has extensive Board experience at both listed and private companies. He is currently a Non-Executive Director at Clarion Housing Association (the UK's largest housing association) and Pigeon Land Limited (a development land promotion company). Prior to this he was on the Savills plc main Board, followed by the Group Executive Board, for 21 years. His roles included CEO of Savills' principal UK subsidiary for 12 years and Head of Global Residential.

He has also previously served as Non-Executive Chairman of Fastcrop plc, which operated the property web portal PrimeLocation, as Non-Executive Director of Adventis, a marketing company, during its flotation on AIM, and as Chairman of the Finance Committee for a university. Rupert now sits on a number of external investment committees, including Christ Church College at the University of Oxford, is a Trustee of the Orchestra of the Age of Enlightenment and chairs the property companies for the private office of a European family.

Commenting on the appointment of Rupert Sebag-Montefiore, OnTheMarket Non-Executive Chairman Chris Bell said:

"I am delighted that Rupert has agreed to join the Board of OnTheMarket. Rupert has extensive executive and non-executive experience in and beyond the UK property sector. In addition to his illustrious career at Savills, he was Chairman of the PrimeLocation portal business and he has considerable Board Committee expertise. He brings a deep understanding of the property market in general and an invaluable insight into the perspective of estate agents and housebuilders in particular. We greatly look forward to working with him as we continue to build the UK's agent-backed property portal."

Commenting on his appointment as Non-Executive Director, Rupert Sebag-Montefiore said:

"It is with great pleasure that I join the Board of OnTheMarket at such an exciting and important phase in its development. I have watched the business grow from a concept to a serious market player in the UK portals sector. I look forward to supporting an entrepreneurial and seasoned leadership team in achieving its growth objectives in the interests of shareholders, customers and property-seekers alike."

Further information in accordance with the AIM Rules

The names of all companies of which Rupert Owen Sebag-Montefiore (66) is or has been a director at any time in the previous five years are set out below.

 
 Current directorships and partnerships   Past directorships and partnerships 
 Clarion Housing Group Ltd                Chesterfield & Co. (Rentals) 
  Corrour Lands Ltd                        Ltd 
  Latimer Developments Ltd                 Hepher Dixon Ltd 
  Orchestra of the Age of Enlightenment    Holden Matthews Estate Agents 
  Trust                                    Ltd 
  Pentridge Consulting Ltd                 Libra Housing Advisory Services 
  Pigeon Land 2 Ltd                        Ltd 
  Pigeon Land Ltd                          PCA Holdings Ltd 
  The Corrour Property Company             PCA Management Consultants Ltd 
                                           Penhurst Properties Ltd 
                                           Penhurst (Investments) Ltd 
                                           Playhouse Services Ltd 
                                           Prime Purchase Ltd 
                                           Rickitt Grant & Company Ltd 
                                           Savills Advisory Services (L&P) 
                                           Ltd 
                                           Savills Telecom Ltd 
                                           Smiths Gore Ltd 
                                           Smith Woolley Ltd 
                                           The London Planning Practice 
                                           Ltd 
                                           Wellington Holdings Ltd 
                                           Wiltshire Creative 
 

There are no other disclosures required to be announced further to paragraph (g) of Schedule 2 to the AIM Rules.

ENDS

For further information, please contact:

 
 OnTheMarket 
  Ian Springett, CEO 
  Clive Beattie, CFO                      0207 930 0777 
 TB Cardew (Financial PR adviser)         0207 930 0777 / [e-mail] 
  Ed Orlebar                               07738 724 630 
  Alycia MacAskill                         07876 222 703 
 Zeus Capital (Nominated Adviser/Joint 
  Broker) 
  Jamie Peel, Martin Green, Daniel 
  Harris 
  (Corporate Finance) 
  John Goold, Benjamin Robertson 
  (Broking)                               0203 829 5000 
 Shore Capital (Joint Broker) 
  Daniel Bush 
  Fiona Conroy                            0207 408 4090 
 

Background on OnTheMarket :

OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, is the third biggest UK residential property portal provider in terms of traffic.

It aims to deliver a market-leading, agent-backed alternative to Rightmove and Zoopla, offering a first-class service to agents at sustainably fair prices and becoming the go-to portal for serious property-seekers.

OnTheMarket plc was admitted to AIM in February 2018 with GBP30 million in new capital in order to support a new growth strategy for the business.

At its IPO, OnTheMarket was 70% owned by over 2,000 agent firms. Following the share issuance arising from its growth in long term agent listing contracts, over 3,000 agent firms operating more than 6,000 UK agency branches are now OnTheMarket shareholders.

With backing from its agent owners, OnTheMarket has developed unique sources of competitive advantage such as the thousands of "New & exclusive" property listings it receives every month from its agents to display 24 hours or more before they are on Rightmove or Zoopla.

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 [e-mail] or visit www.rns.com.

END

BOASEDEDMESSEEE

(END) Dow Jones Newswires

February 27, 2020 02:00 ET (07:00 GMT)