On The Beach Group (OTB)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

165.20p
   
  • Change Today:
      2.40p
  • 52 Week High: 178.00
  • 52 Week Low: 82.80
  • Currency: UK Pounds
  • Shares Issued: 166.94m
  • Volume: 235,075
  • Market Cap: £275.78m

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 165.20p
Change Today 2.40p
% Change 1.47 %
52 Week High 178.00
52 Week Low 82.80
Volume 235,075
Shares Issued 166.94m
Market Cap £275.78m

OTB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.06% below the market average51.06% below the market average51.06% below the market average51.06% below the market average51.06% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Price Trend
57.71% above the market average57.71% above the market average57.71% above the market average57.71% above the market average57.71% above the market average
56.36% above the sector average56.36% above the sector average56.36% above the sector average56.36% above the sector average56.36% above the sector average
Income
75.28% below the market average75.28% below the market average75.28% below the market average75.28% below the market average75.28% below the market average
47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average
Growth
93.91% above the market average93.91% above the market average93.91% above the market average93.91% above the market average93.91% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 1
Sell 1
Strong Sell 0
Total 9
buy
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 28-Mar-2024

Time Volume / Share Price
16:35 27,284 @ 165.20p
16:35 391 @ 165.20p
16:35 289 @ 165.20p
16:35 40 @ 165.20p
16:35 239 @ 165.20p

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