1st February 2023
Ondo InsurTech Plc
("Ondo" or "the Company")
Director / PDMR Dealing
Ondo InsurTech Plc (LON: ONDO) - the insurtech company which aims to be the leading provider of claims prevention technology for home insurers - announces that it has been notified on 31st January 2023 of two share purchases by Directors of the Company
Kevin Withington, an Executive Director and Chief Financial Officer of the Company, purchased a total of 166,666 ordinary shares in the Company ("Ordinary Shares") at a price of six pence per Ordinary Share. Following the transaction Mr. Withington is now interested in 166,666 ordinary shares, representing 0.24 per cent of Ondo's issued ordinary share capital.
Additionally, the Company has also been notified that on the same date Andy Morrison, a Non-Executive Director of the Company, purchased a total of 400,000 ordinary shares in the Company at a price of six pence per Ordinary Share. Following the transaction Mr. Morrison is now interested in 3,400,000 ordinary shares, representing 4.99 per cent of Ondo's issued ordinary share capital.
The notification below, which is made in accordance with the Market Abuse Regulation, provides further details.
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.
Enquiries
For further information, please visit www.ondoplc.com or contact the following:
| Ondo InsurTech Plc Craig Foster, Chief Executive Office
|
+44 (0) 800 783 9866 |
| Broker SI Capital Ltd Jon Levinson |
+44 (0) 20 3143 0600 |
| Public & Investor Relations Cassiopeia Services Ltd Stefania Barbaglio |
+44 (0) 7949 690338 |
About Ondo InsurTech Plc
Ondo InsurTech Plc is a leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - an end-to-end internet of things solution which protects homes from the impact of water damage. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Recent independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by 70%.
LeakBot partners with 11 insurance carriers - including Admiral, Direct Line Group, Hiscox, Mapfre and TopDanmark - across 5 different countries, in Europe and the USA.
In March 2022 LeakBot became the first InsurTech to IPO in London, as Ondo InsurTech Plc (LSE:ONDO).
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Kevin Withington | ||||||
| 2 | Reason for notification |
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| a) | Position/Status | Chief Financial Officer | ||||||
| b) | Initial notification/amendment | Initial notification
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| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Ondo InsurTech Plc
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| 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 and identification code | Ordinary shares of 5 pence each
ISIN: GB00BNVVGD77
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| b) | Nature of transaction | Purchase of ordinary shares
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| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information | 6 pence x 166,666
| ||||||
| e) | Date of transaction | 31st January 2023
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| f) | Place of transaction | London Stock Exchange, Main Market (XLON)
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| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Andy Morrison | ||||||
| 2 | Reason for notification |
| ||||||
| a) | Position/Status | Non Executive Director | ||||||
| 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 and identification code | Ordinary shares of 5 pence each
ISIN: GB00BNVVGD77
| ||||||
| b) | Nature of transaction | Purchase of ordinary shares
| ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information | 6 pence x 400,000
| ||||||
| e) | Date of transaction | 31st January 2023
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| f) | Place of transaction | London Stock Exchange, Main Market (XLON)
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