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Pin to quick picksOcado Regulatory News (OCDO)

Share Price Information for Ocado (OCDO)

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Directors' Dealings

24 Jul 2024 18:22

RNS Number : 7306X
Ocado Group PLC
24 July 2024
 

DIRECTOR/PDMR NOTIFICATIONOCADO GROUP PLC

24 July 2024

Ocado Group plcDirector/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 2024 that Tim Steiner, Chief Executive Officer, had agreed to delay the date of completion of share sale contracts.

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

 

Tim Steiner

2

Reason for the notification

 

a)

Position/status

 

Chief Executive Officer

b)

Initial notification/ Amendment

 

Initial notification

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 financial instrument, type of instrument

 

Identification code

 

Ordinary shares of 2 pence each in Ocado Group plc

 

 

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 £100 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, 20 May 2022 and 24 July 2023, 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. The completion of the third and fourth Forward Sale Agreements were extended to 24 July 2024. Each of the remaining three Forward Sale Agreements were due to complete on 24 July 2025 or such other date as the parties may agree.

By agreement dated 24 July 2024, Tim Steiner and Nicolas Steiner have further agreed to extend the completion date of the remaining Forward Sale Agreements as follows:

The third Forward Sale Agreement is extended to 24 July 2025 and the fourth Forward Sale Agreement is extended to 24 July 2026.

The completion of each of the remaining three Forward Sale Agreements is extended to 24 July 2026.

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)

£0.00

 

10,000,000

d)

Aggregated information

 

- Aggregated volume

 

- Price

 

Price

Aggregated volume

Aggregate total

£0.00

10,000,000

£0.00

e)

Date of the transaction

 

24 July 2024

 

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 BarnesHead of SecretariatOcado Group plcBuildings One & Two Trident PlaceMosquito WayHatfieldHertfordshireAL10 9ULFax: +44 (0)1707 227997email: 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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHFLFFDDLISFIS
Date   Source Headline
1st Mar 202411:31 amRNSTotal Voting Rights
29th Feb 20244:41 pmRNSNotice of AGM
29th Feb 20244:25 pmRNSAnnual Financial Report
29th Feb 20247:00 amRNSFinal Results
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29th Jan 20244:42 pmRNSBlock listing Interim Review
22nd Jan 202410:37 amRNSHolding(s) in Company
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2nd Jun 20234:33 pmRNSHolding(s) in Company
1st Jun 202311:11 amRNSTotal Voting Rights
30th May 20239:32 amRNSHolding(s) in Company
26th May 20235:00 pmRNSDirector/PDMR Shareholding

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