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Ondo InsurTech Plc applied to the London Stock Exchange for a block listing of 33,037,918 ordinary shares of 5p each. This application facilitates the future issue and admission to trading of shares pursuant to the exercise of share warrants, with admission expected at 8am on 6th July 2023. The warrants carry exercise prices of £0.10, £0.12, £0.20, and £0.25 per share, and if fully exercised, would result in approximately £7.2 million in total receipts for the company, based on a weighted average exercise price of £0.22 per share.
| Date | 5 Jul 2023 |
| Time | 13:47:25 |
| Category | Capital structure |
| ID | 0886F |
5 July 2023
Ondo InsurTech Plc ("Ondo" or "the Company")
Block listing Application
Ondo InsurTech Plc (LON: ONDO) - the InsurTech company which aims to be the leading provider of claims prevention technology for home insurers announces that an application has been made to the London Stock Exchange for a block listing of 33,037,918 ordinary shares of 5p each to be admitted to trading on the London Stock Exchange Main Market.
The purpose of the block listing is to facilitate the future issue and admission to trading of shares pursuant to the Company's obligations on the exercise of share warrants under its warrant instruments in issue.
The block listing shares are expected to be admitted to trading at 8am on 6th July 2023. Shares will, when issued upon receipt of valid exercise notices, rank pari passu with the existing ordinary shares of the Company.
The warrants covered by the block listing have exercise prices of £0.10, £0.12, £0.20, and £0.25 per share. If exercised in full, the total receipts due to the Company would be approximately £7.2million, corresponding to a weighted average exercise price of £0.22 per share.
Enquiries
For further information, please visit www.ondoplc.com or contact the following:
|
Ondo InsurTech Plc |
Craig Foster, CEO |
+44 (0) 800 783 9866 |
|
SI Capital Ltd (Company Broker) |
Nick Emerson Jon Levinson |
+44 (0) 1483 413500 +44 (0) 20 3143 0600 |
|
Cassiopeia Services Ltd (PR & Investor Relations) |
Stefania Barbaglio |
+44 (0) 7949 690338
|
About Ondo InsurTech PLC
Ondo InsurTech Plc 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. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.
LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA.
In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO).
For more information, visit www.ondoplc.com