REG - Ocado Group PLC - Director/PDMR Notification

OcadoAnnouncement

20/05/2022 17:00

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RNS Number : 3288M  Ocado Group PLC  20 May 2022

DIRECTOR/PDMR NOTIFICATION

OCADO GROUP PLC

20 May 2022

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 20 May
2022 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  Ordinary shares of 2 pence each in Ocado Group plc

     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 £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, and 2 June 2019, 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 30 June 2022 or such other date as the parties may agree.

                                                                  By agreement dated 20 May 2022, 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 2023.

                                                                  The fourth Forward Sale Agreement is extended to 24 July 2024.

                                                                  The remaining three Forward Sale Agreements are extended to 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)

                                                                  £0.00                                       10,000,000

 d)  Aggregated information                                       Price                 Aggregated volume                           Aggregate total

     -     Aggregated volume

     -     Price

     £0.00                                                                                                    10,000,000                                  £
                                                                                                                                                          0
                                                                                                                                                          .
                                                                                                                                                          0
                                                                                                                                                          0
 e)  Date of the transaction                                      20 May 2022

 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: +44 (0)1707 227997

email: company.secretary@ocado.com (mailto:company.secretary@ocado.com)

 

Ocado Group plc LEI: 213800LO8F61YB8MBC74

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