6th Feb 2014 10:38
LONDON (Alliance News) - Ocado Group PLC Thursday said Co-Founder Jason Gissing sold 3.1 million shares at a price of GBP498.75 per share, in a deal worth approximately GBP15.2 million Tuesday.
Ocado had announced Tuesday that Gissing would retire from the board and leave the company at the annual general meeting in May.
Chief Executive Officer Tim Steiner commented on Tuesday: "[Gissing] has four young children and wants to spend more time with them. He also has a passion for various environmental and social concerns, and has chosen to focus on these important causes full-time in the future."
Following this transaction, Gissing continues to hold 15 million shares, which represents 2.58% of the online grocery company's issued share capital.
Ocado shares were quoted at 535.50 pence, up 9.00p Thursday morning.
By Arvind Bhunjun; [email protected]; @arvindbhunjun
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