TIDMONDO

RNS Number : 0886F

Ondo InsurTech PLC

05 July 2023

5 July 2023

Ondo InsurTech Plc (" Ondo " or "the Company")

Block listing Application

Ondo InsurTech Plc (LON: ONDO) - the InsurTech company which aims to be the leading provider of claims prevention technology for home insurers announces that an application has been made to the London Stock Exchange for a block listing of 33,037,918 ordinary shares of 5p each to be admitted to trading on the London Stock Exchange Main Market.

The purpose of the block listing is to facilitate the future issue and admission to trading of shares pursuant to the Company's obligations on the exercise of share warrants under its warrant instruments in issue.

The block listing shares are expected to be admitted to trading at 8am on 6(th) July 2023. Shares will, when issued upon receipt of valid exercise notices, rank pari passu with the existing ordinary shares of the Company.

The warrants covered by the block listing have exercise prices of GBP0.10, GBP0.12, GBP0.20, and GBP0.25 per share. If exercised in full, the total receipts due to the Company would be approximately GBP7.2million, corresponding to a weighted average exercise price of GBP0.22 per share.

Enquiries

   For further information, please visit www.ondoplc.com   or contact the following: 
 
 Ondo InsurTech Plc            Craig Foster, CEO     +44 (0) 800 783 9866 
 SI Capital Ltd                Nick Emerson          +44 (0) 1483 413500 
  (Company Broker)              Jon Levinson          +44 (0) 20 3143 0600 
 Cassiopeia Services 
  Ltd 
  (PR & Investor Relations)    Stefania Barbaglio    +44 (0) 7949 690338

About Ondo InsurTech PLC

Ondo InsurTech Plc is a world leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. 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).

For more information, visit www.ondoplc.com

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(END) Dow Jones Newswires

July 05, 2023 08:47 ET (12:47 GMT)

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