8 January 2024
Time Out Group plc
("Time Out" or the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
The Company has been informed by its shareholders TO Bermuda Limited and TONY Bermuda Limited, the investment holding companies of Oakley Capital Private Equity L.P. (the "Investment Fund") that the Investment Fund has reached the end of its life and is being liquidated. As a result, its shares (which total 23.82% of the issued share capital of the Company) are being redistributed to Oakley Capital Investments Limited and individuals with a beneficial interest in the Investment Fund (the "Redistribution").
The Director/PDMR notifications below relate to the Redistribution. Following the Redistribution, Mr Dubens has an interest in 12,195,267.90 shares, representing 3.603% of the issued share capital of the Company and Mr Collins has an interest in 34,055 shares, representing 0.01% of the issued share capital of the Company.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Peter Dubens | |
| 2 | Reason for the notification | | |
| a) | Position/status | Non-Executive Chairman | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, UK emission allowance market participant, auction platform or auctioneer | | |
| a) | Name | Time Out Group PLC | |
| b) | LEI | 213800BWH4OF8S4R8K10 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.001p each ISIN: GB00BYYV0629
| |
| b) | Nature of the transaction | Purchase of Shares | |
| c) | Price(s) and volume(s) | Price(s) £0.0536 | Volume(s) 3,405,463 |
| d) | Aggregated information · Aggregated Volume · Price |
· 3,405,463 · £1,825,328.17 | |
| e) | Date of the transaction | 28 December 2023 | |
| f) | Place of the transaction | Off-market trade | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Alexander Collins | |
| 2 | Reason for the notification | | |
| a) | Position/status | Non-Executive Director | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, UK emission allowance market participant, auction platform or auctioneer | | |
| a) | Name | Time Out Group PLC | |
| b) | LEI | 213800BWH4OF8S4R8K10 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.001p each ISIN: GB00BYYV0629
| |
| b) | Nature of the transaction | Purchase of Shares | |
| c) | Price(s) and volume(s) | Price(s) £0.0536 | Volume(s) 34,055 |
| d) | Aggregated information · Aggregated Volume · Price |
· 34,055 · £18,253.48 | |
| e) | Date of the transaction | 28 December 2023 | |
| f) | Place of the transaction | Off-market trade | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Oakley Capital Limited | |
| 2 | Reason for the notification | | |
| a) | Position/status | Oakley Capital Limited is controlled by Peter Dubens, Non-Executive Chairman of Time Out Group PLC | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, UK emission allowance market participant, auction platform or auctioneer | | |
| a) | Name | Time Out Group PLC | |
| b) | LEI | 213800BWH4OF8S4R8K10 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.001p each ISIN: GB00BYYV0629
| |
| b) | Nature of the transaction | Purchase of Shares | |
| c) | Price(s) and volume(s) | Price(s) £0.0536 | Volume(s) 4,271,981 |
| d) | Aggregated information · Aggregated Volume · Price |
· 4,271,981 · £2,289,781.82 | |
| e) | Date of the transaction | 28 December 2023 | |
| f) | Place of the transaction | Off-market trade | |
| For further information, please contact: | |
| | |
| Time Out Group plc | Tel: +44 (0)207 813 3000 |
| Chris Ohlund, CEO Matt Pritchard, CFO | |
| Steven Tredget, Investor Relations Director | |
| | |
| Liberum (Nominated Adviser and Broker) | Tel: +44 (0)203 100 2222 |
| Andrew Godber / Edward Thomas / Joshua Borlant | |
| | |
| FTI Consulting LLP | Tel: +44 (0)203 727 1000 |
| Edward Bridges / Fiona Walker | |
Notes to editors
About Time Out Group plc
Time Out Group is a global media and hospitality business that inspires and enables people to experience the best of the city through its two divisions - Time Out Media and Time Out Market. Time Out launched in London in 1968 to help people discover the exciting new urban cultures that had started up all over the city - today it is the only global brand dedicated to city life. Expert journalists curate and create content about the best things to Do, See and Eat across 333 cities in 59 countries and across a unique multi-platform model spanning both digital and physical channels. Time Out Market is the world's first editorially curated food and cultural market, bringing a city's best chefs, restaurateurs and unique cultural experiences together under one roof. The portfolio includes seven open Markets in cities such as Lisbon, New York and Dubai, several new locations with expected opening dates in 2024 and beyond, in addition to a pipeline of further locations in advanced discussions. Time Out Group PLC, listed on AIM, is headquartered in the United Kingdom.
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