Director/PDMR Shareholding

RNS Number : 8521K

Ocado Group PLC

02 August 2013

 



DIRECTOR/PDMR SHAREHOLDING
OCADO GROUP PLC

2 August 2013

Ocado Group plc 

Sale of Shares by Trident Trust Co (BVI) Limited

as trustee of the Jason Gissing Life Settlement II

Ocado Group plc ("Ocado") announces that it has today received notification pursuant to the FCA's Disclosure and Transparency Rules 3.1.2R, that Trident Trust Co (BVI) Limited as trustee of the Jason Gissing Life Settlement II (the "Trust"), of which Jason Gissing, Ocado's Commercial Director, is a discretionary beneficiary, has sold 1,065,242 Ocado shares at an average price of 310.6p per share. This is the first time the Trust has sold shares in Ocado since the IPO in July 2010 (Mr. Gissing has not sold any shares since the IPO).

This sale represents 5.59% of Mr. Gissing's direct and indirect interests in Ocado shares.  Mr. Gissing retains direct and indirect interests in 17,983,800 Ocado shares (including shares held by the Trust), representing 2.91% of Ocado's issued share capital. 

As described in Ocado's annual report and accounts for the 53 weeks ended 2 December 2012 (the "Annual Report"), Mr. Gissing also has joint beneficial interests in Ocado shares pursuant to Ocado's Joint Share Ownership Scheme (the "JSOS"). As at 2 August 2013, Mr. Gissing's joint beneficial interests in 5,026,200 Ocado shares held under the JSOS have vested pursuant to the terms of the JSOS.  Mr. Gissing's other joint beneficial interests in 1,675,300 Ocado shares pursuant to the JSOS as described in the Annual Report, remain unvested at this date.  Mr. Gissing does not have the right to direct the voting rights attached to any of these shares at the date of this announcement.

Further information concerning Mr. Gissing's other interests in shares and share schemes are set out in the Company's Annual Report. For the purposes of DTR 3.1.3 the transactions took place in the UK between 29 July 2013 and 1 August 2013.

Enquiries
For further information contact:

Ocado Group plc

Neill Abrams, Company Secretary on 01707 228000

David Hardiman-Evans, Head of IR & Corporate Finance on 01707 228 000

Michelle Shearly, Public Relations Manager on 01707 382 274

Tulchan Communications

Andrew Grant, David Shriver, Katharine Wynne at Tulchan Communications on 020 7353 4200

 

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