LONDON - Ocado Group (LON:OCDO) PLC has filed applications with the Financial Conduct Authority (FCA) and the London Stock Exchange (LON:LSEG) (LSE) to admit additional shares to its Official List and to commence trading on the LSE's main market. The company is preparing for the admission of 465,413 ordinary shares to satisfy employee share options and a block listing of 1 million shares for future awards under its employee share purchase plan.
The shares, each with a nominal value of 2 pence, are expected to be listed on December 20, 2024. They will be issued under the Ocado Employee Share Purchase Plan (OSPP) and will carry the same rights as the current issued shares, known as ranking pari passu.
This move comes as part of Ocado's efforts to facilitate the exercise of options by its employees, 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 shares related to the OSPP over time.
The announcement aligns with the requirements of the Listing Rule 3.5.5, ensuring that the market is informed of changes to the number of shares in issue and maintaining transparency with investors and the public.
Ocado Group PLC, known for its technology-driven grocery delivery services, has established itself as a significant player in the online retail sector. The company's decision to increase its share listings reflects its ongoing strategy to support employee investment in the company's future.
Investors and market watchers will be observing the impact of these additional shares on Ocado's market performance once trading commences later this month. The information regarding this application is based on a press release statement issued by the company.
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