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"), Duncan Tatton-Brown has owned 1,000,000 Shares awarded to him under tranche 2 of the JSOS since 1 November 2012. 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. Duncan Tatton-Brown has elected the latter. As a result, 799,867 Shares are being re-registered in Duncan Tatton-Brown's sole name and the balance of 200,133 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 Duncan Tatton-Brown has not changed. For a detailed description of the JSOS scheme refer to pages 249 to 252 of the Company's Prospectus. |