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LONDON - Ocado Group (LON:OCDO) PLC, the British online grocery platform, has applied for a block listing of 6.3 million ordinary shares, the company announced on Monday. The shares, each valued at 2 pence, are set to be admitted to the Official List of the Financial Conduct Authority (FCA) and to trading on the London Stock Exchange (LON:LSEG)’s (LSE) main market.
The block listing will facilitate the issuance of shares over time as part of the company’s employee share schemes. The shares are reserved for four distinct programs: the Ocado Share Incentive Plan, the Ocado Employee Share Purchase Plan, the Ocado Restricted Share Plan, and the Ocado Annual Incentive Plan, with allocations of 3 million, 1.4 million, 1.4 million, and 500,000 shares respectively.
Once issued, these shares will have the same rights and rank equally with the existing issued ordinary shares of the company. The admission of the shares is anticipated to occur on March 17, 2025.
This move indicates Ocado’s continued investment in its workforce by using share awards as a form of employee incentive. The block listing approach allows for more flexibility in managing the issuance of shares to employees under the company’s incentive programs.
Ocado Group PLC has established itself as a key player in the online grocery sector, leveraging technology and automation to service both retail customers and international partners with its platform solutions.
The information about the block listing application is based on a press release statement from Ocado Group PLC. The company has made this announcement in compliance with the Listing Rule 20.6.5, ensuring transparency and adherence to market regulations.
Investors and market watchers will be observing the impact of this new share listing on the company’s capital structure and employee engagement strategies. As the shares are set to be listed, Ocado Group PLC continues to focus on growth and maintaining a competitive edge in the evolving online grocery market.
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