Clive Beattie, a former chief executive of OnTheMarket, is now able to cash in shares worth £92,000 as part of the property portal’s employee share option plan.

Beattie, OnTheMarket’s chief financial officer, took over as chief executive for a few months after Ian Springett was sacked from the role.

Beattie, who earns around £255,000 a year at OnTheMarket, also has additional vested share options and existing shares worth about £200,000 and unvested options worth an additional £725,000.

The news regarding Beattie came in a statement to shareholders. See below:

Exercise of Options, PDMR interests and Total Voting Rights

OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, announces that Clive Beattie, Chief Financial Officer, exercised nil-cost options over 85,000 ordinary shares of £0.002 in the Company (“Ordinary Shares”) on 21 January 2022. These options were granted under the Company’s Employee Share Option Plan in September 2017.

The beneficial holding of ordinary shares by Clive Beattie following the exercise is 115,303 Ordinary Shares. In addition, Clive has 66,515 vested options and 671,658 unvested options.

Issue of equity

The Company has made application to the London Stock Exchange for the issue of securities in respect of 85,000 new Ordinary Shares to be admitted to trading on AIM in relation to the exercise of these share options and it is expected that admission will become effective on 26 January 2022.

Total voting rights

Following the issue of equity and admission of the new Ordinary Shares pursuant to the exercise of share options, the Company’s issued share capital will comprise 74,446,447 Ordinary Shares and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation as part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and set out more details of the transactions.

OnTheMarket revenues to beat expectations after strong second half