Last checked at 21 Sep 2018 18:01
DIRECTOR/PDMR NOTIFICATIONOCADO GROUP PLC
21 September 2018
Ocado Group plcDirector/PDMR Notification
Ocado Group plc (the "Company") makes the following announcement regarding the transactions in Ocado ordinary Shares of 2 pence each ("Shares") carried out by one of its Directors.
1 | Details of the person discharging managerial responsibilities/person closely associated
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a) | Name
| Neill Abrams | |||
2 | Reason for the notification
| ||||
a) | Position/status
| Group General Counsel and Company Secretary | |||
b) | Initial notification/ Amendment
| Initial notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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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
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a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 2 pence each in Ocado Group plc
ISIN GB00B3MBS747 | |||
b) | Nature of the transaction
| Transfer into sole name of the pro rata amount of jointly owned Shares owned under the Ocado Joint Share Ownership Scheme ("JSOS").
The JSOS scheme, which was put in place prior to the Company's Admission in 2010, involves the Executive Directors investing their own funds to purchase a shared interest in the Company's Shares at the market value at that time.
Jointly with the Trustee of the Ocado Employee Benefit Trust ("EBT"), Neill Abrams has owned 3,568,700 Shares awarded to him under tranches 1, 2, 3 and 4 of the JSOS since 3 February 2010. The Rules provide that the jointly-owned Shares can either be sold and the proceeds apportioned, or the pro rata interests in the jointly-owned Shares can be registered in the individual names of the Participant and the Trustee. Neill Abrams has elected the latter. As a result, 2,766,458 Shares are being re-registered in Neill Abrams' sole name and the balance of 802,242 Shares will remain in the EBT owned solely by the Trustee.
No new shares have been created as a result of this transaction and the total beneficial interest in Ocado Group plc owned by Neill Abrams has not changed.
For a detailed description of the JSOS scheme refer to pages 249 to 252 of the Company's Prospectus.
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c) | Price(s) and volume(s)
| Price(s)
| Volume(s) | ||
£0.00
| 2,766,458 | ||||
d) | Aggregated information
- Aggregated volume
- Price
| Price | Aggregated volume | Aggregate total | |
£0.00 | 2,766,458 | £0.00 | |||
e) | Date of the transaction
| 21 September 2018 | |||
f) | Place of the transaction
| London Stock Exchange (XLON) | |||
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 CooperDeputy Company SecretaryOcado Group plcBuildings One & Two Trident PlaceMosquito WayHatfieldHertfordshireAL10 9ULFax: +44 (0)1707 227997email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74