Director/PDMR Shareholding

By

Regulatory News | 05 Nov, 2024

Updated : 17:09

RNS Number : 0610L
Ondo InsurTech PLC
05 November 2024
 

5 November 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 4 November  2024 from Fiduchi Trustees Limited (UK) (the "SIP Trustee") in relation to the purchase of 17,580 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 25.25 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

594

594

 1,990,054

1.71%

Kevin Withington

Chief Financial Officer

594

594

293,568

0.25%

 

 

 

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 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

25.25p

Nil

594

594

 

 

d)

 

Aggregated information

 

 

 

Prices

 

Aggregated volume

12.625p

1,188

 

e)

 

Date of the transaction

 

1 November 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

25.25p

nil

594

594

 

 

d)

 

Aggregated information

 

 

 

Prices

 

Aggregated volume

12.625p

1,188

 

e)

 

Date of the transaction

 

1 November 2024

f)

 

Place of the transaction

 

London Stock Exchange, Main Market (XLON)

 

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