Business
Proposed Placing of Shares and Convertible Bond
Proposed Placing of Shares and Convertible Bond.
About this update from Ocado Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 5881P\n Ocado Group PLC\n 10 June 2020\n \n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION IN THEM, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. \n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. \n \n \n \n \n \n For immediate release\n \n \n \n \n \n 10 June 2020\n \n \n \n \n \n OCADO GROUP PLC\n \n \n \n \n \n Proposed Placing of New Ordinary Shares, Retail Offer and Convertible Bond Offering \n \n \n \n \n \n Ocado Group plc (\"Ocado \" or the \"Company\"), the leading online grocery platform and solutions provider, today announces its intention to conduct a non-pre-emptive placing of approximately £650m of new ordinary shares of 2 pence each (the \"Placing Shares\") in the capital of the Company (the \"Placing\").\n \n \n \n \n \n In conjunction with the Placing, there will be an offer made by Ocado on the PrimaryBid platform of new ordinary shares of 2 pence each in the capital of Ocado (the \"Retail Offer Shares\") at the Placing Price (as defined below) (the \"Retail Offer\"), to provide certain retail investors with an opportunity to participate in the Capital Raise (as defined below). A separate announcement will be made shortly regarding the Retail Offer and its terms. \n \n \n \n \n \n Ocado intends to raise gross proceeds of approximately £657m through the Placing and Retail Offer. \n \n \n \n \n \n Concurrently with the Placing and Retail Offer, the Company is also launching an offering of £350m of guaranteed senior unsecured convertible bonds due 2027 (the \"Bonds\") (the \"Convertible Bond Offering\"). The Placing, Retail Offer and Convertible Bond Offering together are intended to raise total gross proceeds of approximately\n £1,007m (the \"Capital Raise\") and will provide the Company together with its subsidiaries (the \"Group\" or the \"Ocado Group\") with the financial flexibility to capitali...