Director/PDMR Shareholding
Ocado Group
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.
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Details of the person discharging managerial responsibilities/person closely associated
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a) |
Name
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Tim Steiner |
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2 |
Reason for the notification
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a) |
Position/status
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Chief Executive Officer |
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b) |
Initial notification/ Amendment
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Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) |
Name
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Ocado Group plc |
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b) |
LEI
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213800LO8F61YB8MBC74 |
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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
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a) |
Description of the financial instrument, type of instrument
Identification code
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Ordinary shares of 2 pence each in Ocado Group plc
ISIN GB00B3MBS747 |
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b) |
Nature of the transaction
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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 £100 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. |
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c) |
Price(s) and volume(s)
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Price(s)
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Volume(s) |
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£0.00
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14,000,000 |
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d) |
Aggregated information
- Aggregated volume
- Price
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Price |
Aggregated volume |
Aggregate total |
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£0.00 |
14,000,000 |
£0.00 |
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e) |
Date of the transaction
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2 June 2019
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f) |
Place of the transaction
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Outside of a regulated market |
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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.
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