1st Apr 2025 07:00
1 April 2025
Ondo InsurTech Plc
("Ondo" or "the Company")
Total Voting Rights and Shares in Issue update
Ondo InsurTech Plc (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to provide an update on its Shares in Issue and Total Voting Rights in accordance with the Financial Conduct Authority's Disclosure and Transparency Rule 5.6.1.
During the month of March 2025 5,487,679 new Ondo ordinary shares of 5 pence each ("Ordinary Shares") have been issued pursuant to warrant exercises and these shares were admitted to trading under the Company's blocklisting arrangements.
13,612,088 RTO Warrants were issued in March 2022 in connection with the Company's Reverse Takeover and fundraising at the time of the re-admission to the Main Market. These expired on 21 March 2025. Prior to their expiry, a total of 13,526,672 RTO Warrants (approx. 99.4%) were exercised, generating subscription proceeds for the Company of £3.38m.
A total of £4.2m of subscription proceeds have been received to date from warrant exercises, of which £1.7m has been or will be applied to pay down the HomeServe Loan Note in accordance with agreement reached with HomeServe announced on 25 November 2024.
The current position is summarised below.
Exercise Price | Warrants Exercised | Subscription Proceeds | Expiry Date | Warrants Outstanding | Outstanding Value |
25p | 13,526,672 | £3,381,668 | 21st March 2025 (Expired) | Nil | Nil |
20p | 3,180,000 | £636,000 | 28th July 2025 | 4,960,000 | £992,000 |
20p | 861,666 | £172,333 | 22nd May 2026 | 4,330,003 | £866,001 |
Total | 17,568,338 | £4,190,001 |
| 9,290,003 | £1,858,001 |
Total Voting Rights
The Company's issued share capital as of 31 March 2025 comprises of 134,164,292 Ordinary Shares. The Company holds no shares in treasury.
Each Ordinary Share carries the right to one vote in relation to all circumstances at general meetings of the Company. The total number of voting rights in the Company is therefore 134,164,292.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Enquiries:
Ondo InsurTech Plc | Craig Foster, CEO Kevin Withington, CFO | +44 (0) 800 783 9866 |
Dowgate Capital Ltd (Broker & Financial Advisor) | Russell Cook Charlie Hall Amber Philipps | +44 (0) 20 3903 7715
|
Cassiopeia Services Ltd (PR & Investor Relations) | Stefania Barbaglio | +44 (0) 7949 690338 |
Related Shares:
Ondo Insurtech