20 December 2024
Ondo InsurTech plc
("Ondo" or the "Company")
Grant of Options
Ondo InsurTech plc (LSE: ONDO), a leading company in claims prevention technology for home insurers, the Company's Remuneration Committee has approved the grant options over 2,045,372 ordinary shares of 5p each in the Company ("Ordinary Shares") pursuant to the Company's Enterprise Management Incentive Plan (the "EMI Options") and options over a further 1,854,628 Ordinary Shares as Unapproved Share Options ("Unapproved Options").
The EMI Options and the Unapproved Options (together the "Options") are exercisable at a price of 36.5p, being the average closing share price over the 10 business days to 19 December 2024 and will vest across the 48 months from the date of grant. Once vested the Options may be exercised at any time before the fifth anniversary of the date of the award.
The Options comprise:
1. The award of 855,372 EMI Options and 1,604,628 Unapproved Options to the following directors of the Company:
| Name | Position | Number of Ordinary Shares over which Options granted | Total number of Ordinary Shares over which Options held following grant | Total number of Ordinary Shares held | Percentage of Current Issued Share Capital held |
| Craig Foster | Chief Executive Officer | 1,600,000 | 3,919,999 | 1,990,986 | 1.7% |
| Kevin Withington | Chief Financial Officer | 600,000 | 1,289,071 | 294,480 | 0.3% |
| Mark Wood | Chairman | 260,000 | 260,000 | 2,155,152 | 1.9% |
2. EMI Options over 1,190,000 Ordinary Shares granted to other employees of the Company on the same terms as those awarded to the Directors.
3. Unapproved Options of 250,000 Ordinary Shares granted to certain other employees that do not qualify under the EMI plan, also on the same terms as the Directors.
Following the grant of Options, the total number of Options outstanding over unissued Ordinary Shares is 10,441,618 representing approximately 8.62% of the Company's issued share capital.
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 Limited (Broker & Financial Advisor) | Russell Cook Nicholas Chambers Charlie Hall
| +44 (0) 20 3903 7715
|
| Cassiopeia Services Limited (PR & Investor Relations) | Stefania Barbaglio | +44 (0) 7949 690338
|
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
| Grant of options under EMI plan share and further non-approved share options | ||||
| c)
| Price(s) and volume(s) | Exercise price: 36.5p
| ||||
| d)
| Aggregated information
| n/a
| ||||
| e)
| Date of the transaction
| 20 December 2024 | ||||
| f)
| Place of the transaction
| Outside of a trading venue | ||||
| 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
| Grant of options under EMI plan share and further non-approved share options | ||||
| c)
| Price(s) and volume(s) | Exercise price: 36.5p
| ||||
| d)
| Aggregated information
| n/a
| ||||
| e)
| Date of the transaction
| 20 December 2024 | ||||
| f)
| Place of the transaction
| Outside of a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |
| a) | Name
| Mark Wood |
| 2
| Reason for the notification
| |
| a)
| Position/status
| Chairman 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
| Grant of options under EMI plan share |
| c)
| Price(s) and volume(s) | Exercise price: 36.5p
260,000
|
| d)
| Aggregated information
| n/a
|
| e)
| Date of the transaction
| 20 December 2024 |
| f)
| Place of the transaction
| Outside of a trading venue |
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