February 6, 2018 / 7:10 AM / 2 months ago

BRIEF-Ocado to place new shares as it eyes more partnership deals

Feb 6 (Reuters) - Ocado Group Plc:

* ‍PROPOSED PLACING OF NEW ORDINARY SHARES​

* ‍INTENTION TO CONDUCT A NON-PRE-EMPTIVE PLACING OF UP TO 31,463,500 NEW ORDINARY SHARES IN CAPITAL OF COMPANY ( “PLACING SHARES”) TO INSTITUTIONAL INVESTORS ( “PLACING”), WHICH REPRESENTS APPROXIMATELY 5% OF EXISTING ISSUED SHARE CAPITAL OF COMPANY​

* ‍THEREFORE CONFIDENT THAT OCADO SOLUTIONS WILL BE ABLE TO ENTER INTO FURTHER INTERNATIONAL PARTNERSHIPS, WITH MOMENTUM OF SUCH TRANSACTIONS BUILDING OVER TIME​

* ‍NET PROCEEDS OF PLACING WILL BE USED TO FACILITATE SIGNING OF NEW OCADO SOLUTIONS PARTNERSHIPS GLOBALLY,​ Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

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