Liberum acts as Nomad and Sole Bookrunner on £17m fundraising for Time Out Group Plc

We are pleased to announce that Liberum acted as Nomad and Sole Bookrunner on a placing and open offer to raise £17.0m for Time Out Group Plc through the issue of 48,571,947 shares at a price of 35 pence per share.

Time Out Logo

Time Out is a global media and leisure business that helps people explore and experience the best of the city through its two divisions - Time Out Media and Time Out Market.

Despite the ongoing restrictions and challenges of the COVID-19 pandemic, the Group has continued to make progress in opening new markets and signing new management agreements, including in Dubai (April 2021), Porto (2022), Abu Dhabi (2023) and Prague (2025).

The fundraise, along with a continued cost management programme and further strategic initiatives, will help the Company emerge following the pandemic, with a greater digital focus, higher operating margins due to an optimised cost base, more Time Out Markets open and a large global audience that has remained engaged with Time Out and its content.

Liberum Team

Investment Banking – Clayton Bush, Andrew Godber, Edward Thomas, Miquela Bezuidenhoudt, Anthony Schia

Research – Anna Barnfather

Board – David Parsons

Sales – Julian Collett, Oliver Baxendale, Jamie Vickers, Alistair Smallwood, Gabriella Cowley

CIR – Natalie Clarke

Legal – Rebecca Gordon, Alice Foster

London
New York

Our offices

London

Ropemaker Place, Level 12 25 Ropemaker Street London EC2Y 9LY

New York

20th Floor 575 Fifth Avenue New York NY 10017