On The Beach Group (OTB)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

372.00p
   
  • Change Today:
      6.50p
  • 52 Week High: 504.00p
  • 52 Week Low: 210.00p
  • Currency: UK Pounds
  • Shares Issued: 165.40m
  • Volume: 185,546
  • Market Cap: £615.29m

On The Beach raises £26.0m to provide 'greater resilience'

By Iain Gilbert

Date: Wednesday 07 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Online travel agent On the Beach has successfully placed 7.87m new ordinary shares at a price of 330.0p each as part of an effort to increase investment in its digital platforms, as well as online and offline marketing activity, and improve conversion with "attractive low deposit schemes".
On the Beach said on Wednesday that the number of shares placed represented approximately 5.0% of the company's existing issued share capital, and will raise gross proceeds of approximately £26.0m.

The London-listed group also highlighted that the placing price represented a discount of approximately 5.0% to OTB's closing price of 347.5 pence on 6 July.

On the Beach undertook the placing, with Numis Securities and Peel Hunt acting as joint bookrunners, as a result of the "extended disruption" to international travel from the UK throughout 2021 caused by the ongoing Covid-19 pandemic.

The firm stated it was in its best interest to seek supplementary financing in order to provide it with "greater resilience", ensure that it had sufficient funding available to increase marketing spend and, in "more pessimistic scenarios", protect its "strong market position"

"The directors believe the headroom from the placing would allow the group to simultaneously increase investment in its digital platforms; continue to drive brand through investment in online and offline marketing activity and improve conversion with attractive low deposit schemes," said OTB

Admission of the shares was expected to become effective on or before 9 July. Following Admission, the total number of ordinary OTB shares in issue will be 165.39m.

As of 0925 BST, On the Beach shares were down 3.17% at 336.48p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

OTB Market Data

Currency UK Pounds
Share Price 372.00p
Change Today 6.50p
% Change 1.78 %
52 Week High 504.00p
52 Week Low 210.00p
Volume 185,546
Shares Issued 165.40m
Market Cap £615.29m

OTB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.51% below the market average28.51% below the market average28.51% below the market average28.51% below the market average28.51% below the market average
71.88% below the sector average71.88% below the sector average71.88% below the sector average71.88% below the sector average71.88% below the sector average
Price Trend
19.81% below the market average19.81% below the market average19.81% below the market average19.81% below the market average19.81% below the market average
8.33% below the sector average8.33% below the sector average8.33% below the sector average8.33% below the sector average8.33% below the sector average
Income
51.16% below the market average51.16% below the market average51.16% below the market average51.16% below the market average51.16% below the market average
51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average
Growth
51.56% below the market average51.56% below the market average51.56% below the market average51.56% below the market average51.56% below the market average
13.43% above the sector average13.43% above the sector average13.43% above the sector average13.43% above the sector average13.43% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 3
Sell 0
Strong Sell 2
Total 8
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

OTB Dividends

  Latest Previous
  Final Interim
Ex-Div 09-Jan-20 30-May-19
Paid 13-Feb-20 28-Jun-19
Amount 2.00p 1.30p

Trades for 24-Sep-2021

Time Volume / Share Price
16:37 3,799 @ 372.00p
16:35 43,010 @ 372.00p
16:29 2 @ 375.00p
16:29 23 @ 375.00p
16:29 70 @ 375.00p

OTB Key Personnel

CEO Simon Cooper

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