Ocado Group PLC Director/PDMR Shareholding (9881G)
July 24 2023 - 12:00PM
UK Regulatory
TIDMOCDO
RNS Number : 9881G
Ocado Group PLC
24 July 2023
DIRECTOR/PDMR NOTIFICATION
OCADO GROUP PLC
24 July 2023
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 PDMRs. The Company
received notification on 24 July 2023 that Tim Steiner, Chief
Executive Officer, 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
forward sale agreements, each in connection
with 2,000,000 Shares (the "Forward Sale
Agreements"), 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 percent of the market
value of the Shares on completion (which
amount may be paid over three years).
As previously reported on 17 May 2013,
13 May 2016, 2 June 2019 and 20 May 2022,
the parties agreed to delay the date of
completion. As a result, the first Forward
Sale Agreement was extended to, and subsequently
completed on, 30 June 2020. The second
Forward Sale Agreement was extended to,
and subsequently completed on, 30 June
2021. Each of the remaining five Forward
Sale Agreements were extended to 24 July
2023 or such other date as the parties
may agree.
By agreement dated 24 July 2023, Tim Steiner
and Nicolas Steiner have agreed to extend
the completion date of the remaining Forward
Sale Agreements as follows:
The third Forward Sale Agreement is extended
to 24 July 2024.
The completion of the fourth Forward Sale
Agreement remains as 24 July 2024.
The completion of each of the remaining
three Forward Sale Agreements remains as
24 July 2025.
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 10,000,000
------------------------------ ------------------------------
d) Aggregated information Price Aggregated volume Aggregate total
* Aggregated volume
* Price
------------------------------- ---------------- --------------------- ---------------------
GBP0.00 10,000,000 GBP0.00
---------------- ---------------------------------------------------------- ---------------------
e) Date of the transaction 24 July 2023
------------------------------- --------------------------------------------------------------
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:
Megan Barnes
Head of Secretariat
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
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END
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