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LONDON – Ocado Group (LON:) PLC has submitted applications to the Financial Conduct Authority (FCA) and the London Stock Exchange (LON:) (LSE) to admit additional shares to its Official List and begin trading on the LSE main market. The company is preparing for the admission of 465,413 common shares to satisfy employee stock options and a block listing of 1 million shares for future awards under its employee stock purchase plan.
The shares, each with a face value of 2p, are expected to list on December 20, 2024. They will be issued under the Ocado Employee Share Purchase Plan (OSPP) and will have the same rights as the shares currently issued , known as pari passu ranking.
This move comes as part of Ocado’s efforts to make it easier for its employees to exercise options, demonstrating the company’s commitment to involving its workforce in its growth and success. The block listing will serve to efficiently manage the issuance of OSPP-related shares over time.
The announcement aligns with the requirements of Listing Rule 3.5.5, ensuring that the market is informed of changes in the number of shares on issue and maintaining transparency with investors and the public.
Ocado Group PLC, known for its technology-based grocery delivery services, has established itself as a major player in the online retail sector. The company’s decision to increase its share price reflects its continued strategy to support employee investment in the company’s future.
Investors and market watchers will be watching the impact of these additional actions on Ocado’s market performance once trading begins later this month. The information about this application is based on a press release issued by the company.
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