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On January 30, 2025, Fiduchi Trustees Limited purchased 12,902 Ondo InsurTech Plc ordinary shares for the company's Share Incentive Plan, which included CEO Craig Foster and CFO Kevin Withington each acquiring 378 Partnership Shares at 339.68p and 378 Matching Shares for no consideration. Following these transactions, Mr. Foster held 1,992,558 shares (1.59%) and Mr. Withington held 296,052 shares (0.24%); additionally, Non-Executive Director Stefania Barbaglio exercised warrants over 13,175 ordinary shares at 25p per warrant on January 29, 2025, increasing her total holding to 585,506 shares (0.47%). As of January 31, 2025, Ondo InsurTech Plc's total issued share capital and voting rights amounted to 125,697,454 ordinary shares, reflecting the issuance of 4,473,170 new shares during January 2025 from warrant and option exercises.
| Date | 3 Feb 2025 |
| Time | 07:00:08 |
| Category | Director/PDMR dealings |
| ID | 5858V |
3 February 2025
Ondo InsurTech Plc
("Ondo" or the "Company")
Share Incentive Plan Purchase, Director Share Dealing & Total Voting Rights
Ondo InsurTech Plc (LSE: ONDO), the London-listed leader in water damage claims prevention technology for home insurers, received notification on 30 January 2025 from Fiduchi Trustees Limited (UK) (the "SIP Trustee") in relation to the purchase of 12,902 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 339.68 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 |
378 |
378 |
1,992,558 |
1.59% |
|
Kevin Withington |
Chief Financial Officer |
378 |
378 |
296,052 |
0.24% |
Warrant Exercise
Stefania Barbaglio, a Non-Executive Director of the Company, has today exercised warrants over 13,175 Ondo ordinary shares of 5p each. The New Ordinary Shares have been issued, allotted and admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange under the Company's block listing.
Following this transaction Miss Barbaglio is now interested in 585,506 ordinary shares, representing approximately 0.47 per cent of Ondo's issued ordinary share capital.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rule 5.6.1, the Company is pleased to provide an update on its Shares in Issue and Total Voting Rights.
During the month of January 2025, 4,473,170 new ordinary shares of 5 pence each have been issued pursuant to warrant and option exercises and these shares were admitted to trading under the Company's block listing arrangement.
The Company's issued share capital as of 31 January 2025 comprises of 125,697,454 Ordinary Shares of 5 pence each. The Company holds no shares in treasury.
Each Ordinary Share carries the right to one vote in relation to all circumstances at general meetings of the Company. The total number of voting rights in the Company is therefore 125,697,454.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Enquiries
For further information, please visit www.ondoplc.com or contact the following:
|
Ondo InsurTech Plc |
Craig Foster, CEO Kevin Withington, CFO |
+44 (0) 800 783 9866 |
|
Dowgate Capital Ltd (Broker & Financial Advisor) |
Russell Cook Nick Chambers Charlie Hall |
+44 (0) 20 3903 7715
|
|
Cassiopeia Services Ltd (PR & Investor Relations) |
Stefania Barbaglio |
+44 (0) 7949 690338
|
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 21 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.
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1
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Details of the person discharging managerial responsibilities / person closely associated
|
|||||
|
a) |
Name
|
Craig Foster |
||||
|
2
|
Reason for the notification
|
|||||
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a)
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Position/status
|
Chief Executive Officer and PDMR
|
||||
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b)
|
Initial notification /Amendment
|
Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
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a)
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Name
|
Ondo InsurTech Plc |
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b)
|
LEI
|
2138005Y5QBJQMOOI719 |
||||
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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 |
||||
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b)
|
Nature of the transaction
|
Purchase and allocation of Partnership and Matching Shares (no consideration), respectively, under the Ondo SIP. |
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c)
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Price(s) and volume(s)
|
|
||||
|
d)
|
Aggregated information
|
|
||||
|
e)
|
Date of the transaction
|
30 January 2025 |
||||
|
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
|
||||
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b)
|
Initial notification /Amendment
|
Initial Notification |
||||
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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)
|
|
||||
|
d)
|
Aggregated information
|
|
||||
|
e)
|
Date of the transaction
|
30 January 2025 |
||||
|
f)
|
Place of the transaction
|
London Stock Exchange, Main Market (XLON) |
||||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated
|
|
|
a) |
Name
|
Stefania Barbaglio |
|
2
|
Reason for the notification
|
|
|
a)
|
Position/status
|
Non-Executive Director |
|
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
|
Exercise of warrants for ordinary shares |
|
c)
|
Price(s) and volume(s)
|
Exercise of Warrants over 13,175 Ordinary Shares at an exercise price of 25p warrant
|
|
d)
|
Aggregated information
|
n/a
|
|
e)
|
Date of the transaction
|
29 January 2025 |
|
f)
|
Place of the transaction
|
Outside of a trading venue |