Ocado Group PLC Director/PDMR Shareholding (1277B)
June 04 2019 - 10:44AM
UK Regulatory
TIDMOCDO
RNS Number : 1277B
Ocado Group PLC
04 June 2019
DIRECTOR/PDMR NOTIFICATION
OCADO GROUP PLC
4 June 2019
Ocado Group plc
Director/PDMR Notification
Ocado Group plc (the "Company" or "Ocado") makes the following
announcement regarding a transaction in Ocado ordinary shares of 2
pence each ("Shares") carried out by one of its Directors. The
Company received notification on 2 June 2019 that Tim Steiner,
Chief Executive Officer of Ocado, had agreed to delay the date of
completion of share sale contracts.
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Tim Steiner
------------------------------- --------------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- --------------------------------------------------------------
b) Initial notification/ Initial notification
Amendment
------------------------------- --------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------
a) Name Ocado Group plc
------------------------------- --------------------------------------------------------------
b) LEI 213800LO8F61YB8MBC74
------------------------------- --------------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 2 pence each in Ocado
financial instrument, Group plc
type of instrument
Identification code ISIN GB00B3MBS747
------------------------------- --------------------------------------------------------------
b) Nature of the transaction As described on page 238 of the prospectus
issued by the Company on 6 July 2010, on
21 June 2010 Tim Steiner entered into seven
contracts for the transfer of 14,000,000
Shares in aggregate held in his name to
his father, Nicolas Steiner, in consideration
of GBP100 and 97 per cent. of the market
value of the Shares on completion (which
amount may be paid over three years). As
previously reported, on both 17 May 2013
and 13 May 2016, the parties agreed to
delay the date of completion and as a result,
the completion was due on 30 June 2019
or such other date as the parties may agree.
By agreement dated 2 June 2019, Tim Steiner
and Nicolas Steiner have agreed to extend
the completion date as follows:
The first sale agreement is extended to
30 June 2020.
The second sale agreement is extended to
30 June 2021.
Each of the remaining five sale agreements
is extended to 30 June 2022.
All other terms of the Forward Sale Agreements
remain unaltered.
There is no additional consideration payable
in respect of the agreements to delay completion.
Tim Steiner retains a beneficial interest
in the transferring Shares until completion.
------------------------------- --------------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------- ------------------------------ ------------------------------
GBP0.00 14,000,000
------------------------------ ------------------------------
d) Aggregated information Price Aggregated volume Aggregate total
* Aggregated volume
* Price
------------------------------- ---------------- --------------------- ---------------------
GBP0.00 14,000,000 GBP0.00
---------------- ---------------------------------------------------------- ---------------------
e) Date of the transaction 2 June 2019
------------------------------- --------------------------------------------------------------
f) Place of the transaction Outside of a regulated market
------------------------------- --------------------------------------------------------------
This announcement is made in accordance with Article 19 of the
Market Abuse Regulation and the Disclosure Guidance and
Transparency Rules.
Person responsible for arranging the release of this
announcement:
Robert Cooper
Deputy Company Secretary
Ocado Group plc
Buildings One & Two Trident Place
Mosquito Way
Hatfield
Hertfordshire
AL10 9UL
Fax: +44 (0)1707 227997
email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHUSSSRKAANRAR
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