REG - Ocado Group PLC - Directors' Dealings

OcadoAnnouncement

24/07/2024 18:30

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RNS Number : 7306X  Ocado Group PLC  24 July 2024

DIRECTOR/PDMR NOTIFICATION

OCADO GROUP PLC

24 July 2024

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 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  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, 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                                       Price                 Aggregated volume                           Aggregate total

     -     Aggregated volume

     -     Price

     £0.00                                                                                                    10,000,000                                  £
                                                                                                                                                          0
                                                                                                                                                          .
                                                                                                                                                          0
                                                                                                                                                          0
 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 Barnes

Head of Secretariat

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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