LONDON – Ondo InsurTech plc (LSE: ONDO), a company specializing in water leak prevention technology, has announced the issuance of 129,918 new ordinary shares following the exercise of employee share options. An additional 887,500 shares have been issued as a result of warrant exercises. The new shares, priced at 5 pence each, are expected to be admitted to trading on the London Stock Exchange (LON:)’s Main Market at 8.00 a.m. on December 11, 2024.
Following the admission, Ondo’s total issued share capital will consist of 118,076,787 ordinary shares with voting rights. The company has confirmed that it does not hold any shares in treasury, thus the total voting rights in the company will be equal to the number of ordinary shares.
Shareholders may use the total number of ordinary shares as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The issuance of new shares is part of Ondo’s ongoing efforts to incentivize employees and align their interests with those of the company. Ondo is known for its LeakBot technology, a patented self-install device that helps prevent water damage claims in homes by detecting leaks and notifying customers through a mobile app. The company has partnered with 21 insurance carriers across Europe and the USA.
This news is based on a press release statement from Ondo InsurTech plc.
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