Ocado Group PLC Director/PDMR Shareholding (1277B)

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: [phone]

email: [e-mail]

Ocado Group plc LEI: 213800LO8F61YB8MBC74

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June 04, 2019 10:44 ET (14:44 GMT)