OTM issues latest tranche of shares to sweeten long-term listing deals

first_imgProperty portal OnTheMarket (OTM) has issued a further 220,319 ordinary shares to distribute to several estate agents in return for signing long-term deals.Based on the current share price, the stock is worth £209,300 and will go live on the London AIM stock exchange on Thursday.The new listing will value the company at £61 million. OTM’s share price has been sliding dramatically over the past either weeks after hitting a high of £1.40p a share in late February and sinking to a current price of 95p, a drop of a third.The issue of the shares is part of a concerted campaign this year by OTM to sign agents up to long-term deals and is part of a range of offers available to sweeten ‘paid-for’ listing agreements.War chestOTM has plenty of shares to give away – this latest tranche is part of a war chest of over 36.4 million ‘recruitment shares’ at its disposal.“Such equity issuance alongside long-term listing agreements enables agents to support the only major agent-backed portal with a view to creating a fairly-priced alternative to Rightmove and Zoopla and to share in any increase in the value of the company,” says OTM.Since it listed on AIM in January 2018 OTM’s agency branch base consisted almost entirely of paying contracts but since then its growth strategy has been predominantly to offer free listings under short-term introductory trial offers, with a view to conversion to full-price contracts “when the value of the portal has been demonstrated”.OnTheMarket OTM April 1, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Marketing » OTM issues latest tranche of shares to sweeten long-term listing deals previous nextMarketingOTM issues latest tranche of shares to sweeten long-term listing dealsSeveral hundred thousand new shares have been issued this morning by the portal to be distributed to agents.Nigel Lewis1st April 20190751 Viewslast_img read more

HTF welcomes first cohort

first_imgThe Harvard Graduate School of Education is pleased to announce that 20 Harvard College seniors have been selected as the first cohort of Harvard Teachers Fellows (HTF) — an innovative program designed to create pathways for Harvard College undergraduates to enter a teaching career.“I am absolutely delighted to welcome these 20 fellows to the HGSE community. As Harvard undergraduates, these students could choose any career path imaginable. They have chosen teaching, and, to me, there is no higher calling,” said Dean James Ryan. “I am both deeply thankful for their commitment to this work and incredibly excited to have them all as part of our inaugural class. I have no doubt that they, alongside Harvard Teacher Fellows Program alumni for years to come, will have a powerful impact on the lives of students. And I hope that their example inspires others at Harvard, across the Ivy League, and beyond to follow in their footsteps and to choose teaching as a career.”The program, designed by HGSE faculty experts in teaching and learning, was created in response to the growing interest in education among Harvard undergraduates. It was also designed to respond to the need for more well-prepared teachers by drawing Harvard undergraduates into the teaching profession. Read Full Storylast_img read more