Business
Proposed Placing, Retail Offer and Financing
Proposed Placing, Retail Offer and Financing.
About this update from Ocado Group Plc
[{"type":"text","content":"\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 \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 \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n \n \n \n \n \n \n \n For immediate release\n \n \n \n \n \n \n \n \n 20\n June 2022\n \n \n OCADO GROUP PLC\n \n \n \n \n \n Proposed Placing of New Ordinary Shares, Retail Offer and New Bank Financing\n \n \n \n \n \n Ocado Group plc (\"Ocado Group\" or the \"Company\"), the leading online grocery platform and solutions provider, today announces its intention to conduct a non-pre-emptive placing of approximately £575m 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 Concurrently with the Placing, certain members of the senior management team, including the Group CEO and CFO, will subscribe for new ordinary shares, at the Placing Price (as defined below), pursuant to subscription letters entered into with the Company (the \"Subscription\").\n \n \n \n \n \n In conjunction with the Placing and the Subscription, there will be an offer made by the Company on the PrimaryBid platform of new ordinary shares of 2 pence each in the capital of the Company (the \"Retail Offer Shares\") at the Placing Price (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 The shares issued pursuant to the Placing, Subscription and the Retail Offer (together the \"Capital Raise\") are intended to raise gross proceeds of approximately £575m. The net proceeds of the Capital Raise is expected to give the Company enough liquidity to fund the requirements of its existing and expected customer commitments into the mid-term, driving strong grow...