Director/PDMR Shareholding

Time Out Group plc

08 January 2024

 

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: [phone]
Chris Ohlund, CEO Matt Pritchard, CFO
Steven Tredget, Investor Relations Director
Liberum (Nominated Adviser and Broker)	Tel: [phone]
Andrew Godber / Edward Thomas / Joshua Borlant
FTI Consulting LLP	Tel: [phone]
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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