ONDO INSURTECH PLC

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  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. ONDO INSURTECH PLC 2022-03-22 → present
2. SPINNAKER ACQUISITIONS PLC 2021-05-12 → 2022-03-22
3. SPINNAKER ACQUISITIONS LIMITED 2021-02-23 → 2021-05-12

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Taking into account the completed refinancing, the resulting reduction in near-term cash debt service, the additional headroom provided by the new committed credit facility, and the base case and downside scenarios modelled, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.”

Group structure

1. ONDO INSURTECH PLC · parent
   1. LeakBot Limited 100% · England · Provision of leak detection services and technology
   2. LeakBot Europe ApS 100% · Denmark · Distributor
   3. LeakBot USA Inc. 100% · USA · Distributor

Significant events

• “In December 2025, the Company completed a share placing and retail offer raising £2.38m to support the ongoing growth within the USA.”
• “Subsequent to the balance sheet date, on 22 and 23 June 2026 the Company announced a conditional refinancing comprising: (i) The issue of £2.0 million of unsecured convertible loan notes to a syndicate of Cornerstone Investors... (ii) A placing and retail offer of 96,710,000 new ordinary shares at 3.0 pence per share raised £2.9m. (iii) An unsecured credit facility of up to £2.0 million from a Cornerstone Investor, available from 1 April 2027 and drawable in tranches at 17.5% interest annually. The total fundraising raised gross proceeds of £4.9 million. (£4.4 million net of expenses)”
• “At the General Meeting held on 9 July 2026, all six resolutions were duly passed on a poll... including Resolution 1 approving the capital reorganisation of the Company's share capital (conditional upon the passing of Resolution 6 adopting new articles of association).”
• “Concurrently, the Company agreed amendments to its secured loan note instrument with HomeServe Assistance Limited, extending the redemption date of the outstanding HS Loan Notes to 31 May 2030 and reducing the interest rate to 5% per annum (from 12%, previously scheduled to rise to 17%), with capital and rolled-up interest deferred until final repayment. These amendments reduce accrued interest at 31 May 2026 by approximately £1.1 million and future rolled-up interest by approximately £1.7 million, deferring cash servicing of the facility by approximately £7.2 million to 31 December 2029, other than a previously committed £0.49 million payable to HomeServe in two instalments in September and December 2026, funded from fundraising proceeds.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

17

last 12 months

Capital events

8

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.