Update to Placing and Admission
Ondo InsurTech plc has successfully raised £2.30 million through an increased placing and subscription, including additional participation from certain directors. The company will issue 6,180,000 Placing Shares and 3,031,200 Subscription Shares, with admission to the London Stock Exchange expected on December 10, 2025. Directors Mark Wood, Craig Foster, Kevin Withington, James Quin, and Greig Paterson have subscribed for a total of 440,000 placing shares, which will result in new post-admission shareholdings ranging from 0.05% to 1.69%.
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Ondo InsurTech plc (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to provide the following update to the Placing and Subscription, further to the Company's announcement on 3 December 2025 ("Launch Announcement") and Result of Placing & Subscription announcement on 4 December 2025. Definitions used in this announcement have the same meaning as given in the Launch Announcement.
The Company has received additional interest to participate in the Placing, with additional participation from certain directors of the Company, and as such has increased the size of the Placing to accommodate this interest. Following this, the Company therefore is pleased to have raised £2.30 million (before fees and expenses), in aggregate, via the placing of 6,180,000 Placing Shares to certain Institutional and other investors and a further 3,031,200 Subscription Shares by way of the Subscription.
Directors' participation
Certain Directors of the Company have undertaken to subscribe to the Placing as follows:
| Name | Current shareholding | Total Number of Placing Shares | Share-holding upon Admission | % holding upon Admission |
|---|---|---|---|---|
| Mark Wood | 2,334,652 | 200,000 | 2,534,652 | 1.69% |
| Craig Foster | 2,458,252 | 40,000 | 2,498,252 | 1.67% |
| Kevin Withington | 306,324 | 40,000 | 346,324 | 0.23% |
| James Quin | - | 80,000 | 80,000 | 0.05% |
| Greig Paterson | - | 80,000 | 80,000 | 0.05% |
For the avoidance of doubt, these director subscriptions are not in addition to those announced in the Result of Placing & Subscription announcement on 4 December 2025.
Application for Admission
Applications have been made for the Placing Shares and Subscription Shares to be admitted to listing in the 'Equity shares (transition)' listing category of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market for listed securities of London Stock Exchange plc (the "London Stock Exchange").
It is now expected that admission of the Placing Shares and the Subscription Shares ("First Admission") will become effective and dealings will commence at 8.00 a.m. on 10 December 2025.
As announced previously, it is expected that admission of the WRAP Retail Offer Shares will become effective and dealings will commence at 8.00 a.m. on 11 December 2025.
The Placing is conditional upon, among other things, First Admission becoming effective and the Placing Agreement not being terminated in accordance with its terms.
The New Ordinary Shares, when issued, will be credited as fully paid and will rank pari passu in all respects with the Company's then Existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.