Result of Retail Offer
Time Out Group plc has successfully completed its Retail Offer, conditionally raising approximately £176,566 through the issuance of 2,207,069 new Ordinary Shares at 8.0 pence per share. This brings the total gross proceeds from the Capital Raising to approximately £8,176,566, requiring the issuance of 102,207,069 new Ordinary Shares. The Retail Offer is contingent on shareholder approval and Admission, expected on January 7, 2026. Following Admission, the Concert Party Group will hold 50.15 per cent. of the enlarged issued share capital.
Select text to share a quote on X · sign in to keep highlights & notes in your TMO notes
Time Out (AIM: TMO), the global media and hospitality business, announced on earlier today the launch of a Capital Raising comprising a Firm Placing and a Conditional Placing in conjunction with a Retail Offer.
The Company is pleased to announce that the Retail Offer successfully completed and closed at 1.30 p.m. on 18 December 2025 and that it has conditionally raised approximately £176,566 in the Retail Offer through the issue of 2,207,069 new Ordinary Shares at the Issue Price of 8.0 pence per share.
Following the close of the Retail Offer, the Company has conditionally raised gross proceeds of approximately £8,176,566 at the Issue Price via the Capital Raising. The Company will therefore be required to issue and allot a total of 102,207,069 new Ordinary Shares to satisfy the Capital Raising.
The Retail Offer is conditional on approval by the Company's Shareholders at a general meeting and Admission becoming effective at 8:00 am on 7 January 2026 (or such later date as the Company and its advisors may agree, but not later than 21 January 2026).
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the 'Retail Offer' launch announcement or 'Firm Placing, Conditional Placing and Retail Offer' launch announcement released earlier today.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for the 2,207,069 new Ordinary Shares to be admitted to trading on AIM. Admission of the new Ordinary Shares to be issued pursuant to the Retail Offer is expected to take place and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 7 January 2026, at which time it is also expected that the new Ordinary Shares will be enabled for settlement in CREST.
Concert Party Holding
As noted in the Company's 'Result of Firm and Conditional Placing' announcement released earlier today, following Second Admission, the Concert Party Group, consisting of Oakley Capital Investments Limited, Oakley Capital Limited and certain Directors, will hold 262,083,995 Ordinary Shares. In light of the number of Retail Offer Shares to be issued pursuant to the Retail Offer, the Company can now confirm that, upon Second Admission, the Concert Party Group's holding will represent 50.15 per cent. of the enlarged issued share capital.
References to times in this Announcement are to London time unless otherwise stated.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.