Regulatory Story
Go to market news section View chart   Print
Ocado Group PLC  -  OCDO   

Director/PDMR Shareholding

Released 17:10 30-Nov-2012

RNS Number : 5010S
Ocado Group PLC
30 November 2012


30 November 2012 


Ocado Group plc
Notification of Transactions of Directors,
Persons Discharging Managerial Responsibility or Connected Persons

In accordance with the FSA's Disclosure Rules and Transparency Rules 3.1.2R and 3.1.4R, Ocado Group plc ("Ocado") announces that on 30 November 2012 a transaction took place in relation to Ocado's Joint Share Ownership Scheme ("JSOS"). In connection with his participation in the JSOS, Mark Richardson, Director of Ocado (the "Director") acquired a beneficial interest in existing Ocado ordinary shares of 2 pence per share. The share interests were acquired by the Director from Appleby Trust (Jersey) Limited (the "EBT Trustee") in shares already held by the EBT Trustee; no rights to acquire newly issued ordinary shares have been created and accordingly this acquisition of beneficial interests does not, and will not, dilute shareholders. 




Number of interests in ordinary shares acquired

Total interests in JSOS following acquisition

Mark Richardson

Operations Director




The JSOS is a shareholder approved share ownership scheme under which its participants (including all of the Executive Directors of Ocado) and Greenwood Nominees Limited on behalf of the EBT Trustee hold separate beneficial interests in Ocado ordinary shares. The shares to which these interests relate are already held in the Ocado employee benefit trust for the purposes of the JSOS (and subject to the rules of the JSOS).

The beneficial interests in ordinary shares acquired by the Director are divided into two tranches, the first of 711,975 share interests which vest in 2013 and the second of 776,700 share interests which vest in 2014. The EBT Trustee's interest in each Ocado ordinary share held under the JSOS is the value up to a specified price for the tranche of which that share forms part (the "Hurdle"). The participant's interest is the excess in value over the Hurdle. Each tranche vests in the year indicated, normally only if the relevant participant remains employed by Ocado.  The Hurdles for each tranche are as follows: 










Mark Richardson's beneficial interests in the Ocado ordinary shares were acquired for £16,200.85. For the purposes of DTR3.1.3, the above transactions took place in the United Kingdom on 30 November 2012.



Company Secretary
Ocado Group plc
Titan Court
3 Bishops Square
Hatfield Business Park
Hatfield, Hertfordshire AL10 9NE
Fax: +44 (0)1707 227 997


This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Director/PDMR Shareholding - RNS