OnTheMarket has launched a 2022 Save As You Earn Scheme offering a saving plan over three years for all eligible employees.

Employees were invited to subscribe for options over the company’s ordinary shares of £0.002 each in the company which have been granted on 14 July 2022 at an exercise price of £0.692 in accordance with the terms of the 2022 SAYE Scheme. This represents a discount of 20% from the mid-market closing price for an Ordinary Share on 17 June 2022, the business date prior to the invitation made to all eligible employees on 20 June 2022.

A total of 81 employees have participated in the scheme and 821,928 Options have been granted representing 1.10% of the Company’s issued share capital.

Helen Whiteley, Chief Commercial Officer, has been selected as the Person Discharging Managerial Responsibility (PDMR) to participate in the 2022 SAYE Scheme. 

Save As You Earn (SAYE)

This is a savings-related share scheme where you can buy shares with your savings for a fixed price.

You can save up to £500 a month under the scheme. At the end of your savings contract (3 or 5 years) you can use the savings to buy shares.

The tax advantages are:

the interest and any bonus at the end of the scheme is tax-free
you do not pay Income Tax or National Insurance on the difference between what you pay for the shares and what they’re worth
You might have to pay Capital Gains Tax if you sell the shares.

You’ll not pay Capital Gains Tax if you transfer the shares:

to an Individual Savings Account (ISA) within 90 days of the scheme ending
to a pension, directly from the scheme when it ends
If you do not transfer your shares to a pension immediately when the scheme ends, you can still transfer them up to 90 days later. You may have to pay Capital Gains Tax if they go up in value between when you buy them and when you transfer them.