TIDMOCDO

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.

 
       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 
                                         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 GBP100 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) 
      -------------------------------  ------------------------------  ------------------------------ 
   GBP0.00                                                              10,000,000 
  ------------------------------                                       ------------------------------ 
 d)         Aggregated information      Price             Aggregated volume      Aggregate total 
 
              *    Aggregated volume 
 
 
 
              *    Price 
      -------------------------------  ----------------  ---------------------  --------------------- 
   GBP0.00           10,000,000                                                  GBP0.00 
  ----------------  ----------------------------------------------------------  --------------------- 
 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

Ocado Group plc LEI: 213800LO8F61YB8MBC74

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END

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May 20, 2022 11:50 ET (15:50 GMT)

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