Issue of deferred consideration shares

RNS Number : 1243U

Time Out Group plc

19 October 2017

 

19 October 2017

Time Out Group plc

("Time Out", the "Company" or the "Group")

Issue of deferred consideration shares

Time Out Group plc (AIM: TMO), the global media and entertainment business, announces that pursuant to the acquisition of Leanworks Limited announced on 21 October 2016, 539,315 new ordinary shares will be issued to the vendor on 20 October 2017 as deferred consideration and application has been made for these shares to be admitted to trading on AIM. Admission is expected to occur on 20 October 2017. The number of ordinary shares to be issued as deferred consideration was calculated with reference to, inter alia, the prevailing average share price of the 30 days up to and including 13 October 2017.

Following Admission, the Company's issued share capital will comprise 133,362,889 ordinary shares of 0.1 pence each and may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.  The Company does not hold any shares in treasury.   

For further information, please contact:
Time Out Group plc	Tel: [phone]
Julio Bruno, CEO
Richard Boult, CFO
Steven Tredget, Investor Relations Director
Liberum Capital Limited (Nominated Adviser and Broker)	Tel: [phone]
Steve Pearce / Jill Li
FTI Consulting LLP	Tel: [phone]
Edward Bridges / Stephanie Ellis / Emma Appleton / Frances Bussey

Notes to editors

About Time Out Group plc

Time Out is a multi-platform media and e-commerce business with a global content distribution network comprising magazines, online, mobile apps, mobile web and physical presence via Live Events and Time Out Market.  Using these platforms and its well-established global brand, Time Out seeks to inspire and enable people to experience the best of a city, through curated content around food, drink, music, theatre, art, style, travel and entertainment. Time Out, listed on AIM and headquartered in the United Kingdom, has a presence in 108 cities and 39 countries with a monthly global digital audience reach of 242 million.

 

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