Ocado's Rausing goes shopping

Ocado non-executive director Jorn Rausing has been on a big shopping spree, spending more than £17m on shares in the grocery deliverer.

He took 16.6m at between about 97p and 118p a time and now has 62.7m, which is about 11.24% of the company.

Rausing joined the board of Ocado when the investment group he is attached to, Apple Trust, made an initial investment in Ocado in 2003.

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He is a member of the Swedish Rausing family, which made a fortune by developing Tetra Pak milk cartons. He is head of mergers and acquisitions for Tetra Laval, the packaging company.

Shares in Ocado fell sharply last week on news that its main rival in the grocery delivery market, the supermarket Tesco, is to launch a major price cutting offensive to tempt cash-strapped customers.

Earlier this month, Ocado said it saw sales increase by almost one-fifth in the first two-thirds of its financial year, despite continuing capacity constraints at its Hatfield depot.

Gross sales in the 36 weeks to August 7th hit £444.6m, up 19.5% from £372.2m in the equivalent period in 2010.

Top Director Buys

Ocado Group (OCDO)

Director name: Mr Jorn Rausing

Amount purchased: 600,000 @ 104.79p

Value: £628,740

Ocado Group (OCDO)

Director name: Mr Jorn Rausing

Amount purchased: 600,000 @ 100.48p

Value: £602,880

Ocado Group (OCDO)

Director name: Mr Jorn Rausing

Amount purchased: 260,677 @ 97.48p

Value: £254,108

Ocado Group (OCDO)

Director name: Mr Jorn Rausing

Amount purchased: 200,000 @ 117.99p

Value: £235,980

Continental Coal Limited (DI) (COOL)

Director name: Mr Jason P Brewer

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Atkins (WS) (ATK)

Director name: Dr Uwe Krueger

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Value: £50,283

Progressive Digital Media Group (PRO)

Director name: Mr Mark Meek

Amount purchased: 258,000 @ 15.50p

Value: £39,990

Bankers Petroleum Ltd. (BNK)

Director name: Mr Phil Knoll

Amount purchased: 9,000 @ 252.73p

Value: £22,746

Progressive Digital Media Group (PRO)

Director name: Mr Stephen Bradley

Amount purchased: 172,000 @ 15.50p

Value: £26,660

Bankers Petroleum Ltd. (BNK)

Director name: Mr Phil Knoll

Amount purchased: 4,900 @ 275.64p

Value: £13,506