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RNS Number : 6188B
Ocado Group PLC
21 September 2018
 

DIRECTOR/PDMR NOTIFICATION
OCADO GROUP PLC

21 September 2018

 

Ocado Group plc
Director/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

 

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

 

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

 

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.

 

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 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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