Onthehouse gets new chairperson after Gail Pemberton resigns

Gail Pemberton, the chairperson of Onthehouse Holdings, will resign as a director with effect from 27 February 2015, as upheaval continues at the property data company.

Its new board proposes to appoint Tony Scotton as chairman, who has stepped down from the role of interim CEO.

Chris Meehan, the current chief operating officer has been appointed as acting CEO, the search begining last October on the departure of Michael Fredericks.

A major new shareholder has recently emerged represented by Michael Dempsey, so further board changes are being made as part of the further renewal process.

Dempsey directly and indirectly controls 15,837,745 shares in OTH, representing 19.2% of issued capital.

Gail Pemberton will be joined by Brian Mitchell, nominee directors Gabriel Radzyminski and Glenn Poswell in exiting the board leaving Anthony Eisen to serve as an independent non- executive director.

Michael Dempsey will join the board along with Daniel Dempsey and Angus Johnson.

Big recent shareholder arrivals on the registry, Blue Lake Partners, Gannet Capital and Sandon Capital welcomed the appointment of the Dempseys and Brisbane property developer Angus Johnson.

Michael Dempsey founded and led Ezidebit Pty Ltd from a start up venture in Brisbane to become Australia’s leading payment processor. Ezidebit was sold to Global Payments Limited, a Nasdaq listed Fortune 1000 company for $305 million in 2014.

Onthehouse will release its first half results on 26 February 2015.

Based on unaudited management accounts, the operating results for the half year to 31 December 2014 are expected to be circa:

• Revenue of $13 million (1HY14: $12.9 million);
• Underlying EBITDA of $3.1 million (1HY14: $3.2 million);