OnTheMarket has applied to the London Stock Exchange for new shares to be issued, to be given to agents who have signed new long-term listing contracts.
Altogether OTM has applied for 407,547 new shares and expects them to be admitted on Wednesday this week.
Last week, OTM shares finished at 80.5p, down from a high of about 181p in May 2018, after launching that year in February with a price of 165p.
Comments (5)
What if connells join as opposed to laying out the heavy fine looming ref GHollman
Now that would work for all parties and for paying agents, the stock levels would be in line or above RM.
RMEXIT RM have took a big hit in the last year with many letting agents Sacking RM they will soon be left with a couple of corporates and some onliners.
Happy RMEXIT to all the lucky agents with the bottle to leave.
Maybe this is just an amuse bouche before gearing up to offer to offer a shedful of new shares to win one of the big prizes CWD or Bricks ? Should imagine it would do shareholders in all of them a big favour .
I guess the game plan has been to secure as many of the small independents contracted before trying to land Bricks as it might not sit well .They have already alienated Connells so they desperately need to bag one of these prizes if they are going to gain any traction
Bricks can’t join, no High Street agency.
Neither, Agents were advised in 2014. could new homes developers.