Share Incentive Plan Purchase
3 October 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 1 October 2024 from Fiduchi Trustees Limited (UK) (the "SIP Trustee") in relation to the purchase of 31,700 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 14.0 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 | 1,071 | 1,071 | 1,988,866 | 1.71% |
Kevin Withington | Chief Financial Officer | 1,071 | 1,071 | 292,380 | 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)
|
| ||||
d)
| Aggregated information
|
| ||||
e)
| Date of the transaction
| 1 October 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)
|
| ||||
d)
| Aggregated information
|
| ||||
e)
| Date of the transaction
| 1 October 2024 | ||||
f)
| Place of the transaction
| London Stock Exchange, Main Market (XLON) | ||||
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