CoStar UK Limited entered into a scheme of arrangement to acquire OnTheMarket plc (AIM:OTMP) from a group of shareholders for £88.2 million on October 19, 2023. The offer price per share is £1.1. The cash consideration payable by CoStar to OnTheMarket Shareholders under the terms of the Acquisition will be funded through the existing cash resources of CoStar. The OnTheMarket Directors, who have been so advised by Zeus as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. Accordingly, the OnTheMarket Directors intend to recommend unanimously that Scheme Shareholders vote in favor of the Scheme at the Court Meeting and that OnTheMarket Shareholders vote in favor of the Resolution at the General Meeting and subject to anti trust approval. The Scheme is currently expected to become Effective during Q4 2023, subject to the satisfaction or, where applicable, waiver of the Conditions. As on November 20, 2023, Brett Stone sends a letter to proxy advisers ISS and Glass Lewis regarding the transaction. As of November 24, 2023, the Board's unanimous recommendation for Shareholders to vote in favor of the Acquisition at forth coming Court Meeting and General Meeting to be held on December 4, 2023, to approve the transaction. As of December 4, 2023, OnTheMarket Shareholders voted to pass the Special Resolution in connection with the implementation of the Scheme, including the amendment to OnTheMarket's articles of association, at the General Meeting. As on December 7, 3,the Boards of OnTheMarket and CoStar UK announced, amongst other things, that the Court had sanctioned the Scheme.

Goldman Sachs acted as a financial advisor, Latham & Watkins (London) LLP acted as a legal advisor to CoStar. Eversheds Sutherland acted as a legal advisor, Shore Capital, and Jamie Peel and Benjamin Robertson of Zeus Capital Limited acted as financial advisors to OnTheMarket Plc. Tom Mercer of Ashurst LLP acted as legal advisor to Goldman Sachs International.

CoStar UK Limited completed the acquisition of OnTheMarket plc (AIM:OTMP) from a group of shareholders on December 12, 2023. Scott Wheeler, Catherine Bland, Matthew Green and Robin Rossmann have been appointed as directors of the OnTheMarket.