What’s new: OnTheMarket’s update to its COVID-19 mitigation measures reveals:
At 31 March 2020 OTM had cash of £8.5m and, excluding deferred creditor payments, no borrowings.
Initiatives to “conserve cash, whilst supporting agents”, which “allow revenues to cover ongoing costs”, include:
- 33% discount of fees to agents for 3 months (as announced on 19 March);
- Furloughing of 32 staff, voluntary waiver of 20% of remuneration for 3 months by the Board, management and majority of o ....
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OnTheMarket (OTMP LN) - COVID mitigation
- Published:
15 Apr 2020 -
Author:
Robin Savage -
Pages:
3
What’s new: OnTheMarket’s update to its COVID-19 mitigation measures reveals:
At 31 March 2020 OTM had cash of £8.5m and, excluding deferred creditor payments, no borrowings.
Initiatives to “conserve cash, whilst supporting agents”, which “allow revenues to cover ongoing costs”, include:
- 33% discount of fees to agents for 3 months (as announced on 19 March);
- Furloughing of 32 staff, voluntary waiver of 20% of remuneration for 3 months by the Board, management and majority of o ....