Business
Results of Firm Placing and Retail Offer
Results of Firm Placing and Retail Offer.
About this update from Time Out Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2709U\n Time Out Group plc\n 01 April 2021\n \n \n \n \n THIS ANNOUNCEMENT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. \n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF TIME OUT GROUP PLC.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.\n \n \n \n \n \n 1 April 2021\n \n \n \n \n \n Time Out Group plc\n \n \n (\"Time Out\" or the \"Company\")\n \n \n \n \n \n Results of Firm Placing and Retail Offer\n \n \n and\n \n \n Notice of General Meeting\n \n \n \n \n \n \n \n \n Time Out is pleased to announce that, following its announcement on 30 March 2021 regarding the launch of a Firm Placing, Retail Offer, Conditional Placing and Placing and Open Offer (together, the \"Capital Raising\"), the accelerated bookbuild process in relation to the Firm Placing has completed and the Company has placed a total of 24,320,000 new ordinary shares in the capital of the Company (the \"Firm Placing Shares\") at a price of 35 pence per Firm Placing Share (the \"Issue Price\") with existing institutional and other investors pursuant to the Firm Placing. Due to strong demand from institutional investors in the Firm Placing, the Directors have exercised their discretion to increase the size of the Conditional Placing by approximately £2.0 million.\n \n \n \n \n \n As a result of the completion of the bookbuild process in relation to the Firm Placing and the increased size of the Conditional Placing, the Company confirms that it expects to issue a total of 48,571,947 new ordinary shares in the capital of the Company (the \"New Ordinary Shares\") pursuant to the Capital Raising, raising gross proceeds of approximately £17.0 million, representing approximately 17.1 per cent. of the Company's issued share capital immediately prior to the announcement of the Capital Raising.\n \n \n \n \...