Previously writing on agent-backed property portal company OnTheMarket (OTMP), in October with the shares at 83.5p I concluded so it’s a ‘supplemented offering’ as a result of conditions deteriorating, with the company’s cash already squeezing and brand awareness important for growth. There’s dilution as “we continue to convert agents to full-tariff, long-term contracts with share issuance” but I suggest there could also be much more dilution required not too far down the line due to the financial position. Thus, in all, certainly not one I’d want to own currently. Today a “Directorate Change and Trading Update” announcement including a “pleased to provide” update on trading – so positive then? Er…

Agent-backed property portal company OnTheMarket (OTMP) has announced results for its half-year ended 31st July 2019 including “the continued strong growth in the operational performance of the OnTheMarket.com portal provides encouragement for the future”. An 83.5p share price though compares to a 165p per share February 2018 AIM IPO…