Business
Proposed placing of shares
Proposed placing of shares.
About this update from Ocado Group Plc
[{"type":"text","content":"\n \nRNS Number : 9841D Ocado Group PLC 06 February 2018 \n\n6 February 2018\nTHIS ANNOUNCEMENT (INCLUDING THE APPENDIX) IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY SECURITIES, INCLUDING PLACING SHARES, IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \nOCADO GROUP PLC\nProposed placing of new Ordinary Shares\nOcado Group plc (\"Ocado\" or the \"Company\"), today announces its intention to conduct a non-pre-emptive placing of up to 31,463,500 new ordinary shares in the capital of the Company (the \"Placing Shares\") to institutional investors (the \"Placing\"), which represents approximately 5% of the existing issued share capital of the Company.\nThe Placing is being conducted, subject to satisfaction of certain conditions set out in the Appendix to this announcement, through an accelerated bookbuild process (the \"Bookbuild\") which will be launched immediately following this placing announcement (the \"Announcement\"). Goldman Sachs International (\"Goldman Sachs\") and Numis Securities Limited (\"Numis\"), are acting as joint bookrunners (the \"Bookrunners\") in connection with the Placing.\nThe Company has also published today its preliminary annual financial results for the 53 weeks ended 3rd December 2017.\nRationale for the Placing and use of proceeds\nThe last twelve months have been transformational for Ocado. Ocado believes that its Ocado Solutions (\"Ocado Solutions\") technology platform is primed for growth and has been validated internationally through its latest partnerships with Groupe Casino and Sobeys. Ocado is therefore confident that Ocado Solutions will be able to enter into further international partnerships, with the momentum of such transactions building over time. \nThe net proceeds of the Placing will be used to facilitate the signing of new Ocado ...