Business
Update on PrimaryBid Offer
Update on PrimaryBid Offer.
About this update from Time Out Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0322U\n Time Out Group plc\n 31 March 2021\n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATIONAL 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 \n \n \n TIME OUT GROUP PLC.\n \n \n \n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS \n \n \n NOT FOR PUBLICATION, RELEASE, FORWARDING OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\n \n \n \n \n \n \n \n \n \n Time Out Group plc\n \n \n \n \n \n (\"\n \n Time Out\n \n \" or the \"\n \n Company\n \n \") \n \n \n \n \n \n Update on PrimaryBid Offer\n \n \n \n \n \n Time Out\n (LON: TMO\n ), \n the AIM quoted global media and leisure business\n , \n announced on \n 30 March\n \n \n \n 2021 \n the launch of a proposed fundraising comprising a firm placing by\n \n \n \n way of accelerated bookbuild process\n (the \"FirmPlacing\"),\n a conditional offer for subscription via PrimaryBid (the \"PrimaryBidOffer\"), a conditional placing of new ordinary shares (the \"Conditional Placing\") and a placing and open offer of new ordinary shares (the \"Placing and Open Offer\"), in each case at an issue price of 35 pence per new ordinary share (the \"Issue Price\") (together the \"Capital Raising\").\n \n \n \n \n \n The Company is pleased to announce that the PrimaryBid Offer successfully closed at \n 1:30\n \n \n \n p.m. on \n 30 March\n \n \n \n 2021 after being oversubscribed\n . \n \n \n \n \n \n Following the successful closing of the PrimaryBid Offer, the Company expects to raise gross proceeds of £\n 1.4\n \n \n \n million through the issue of 4,000,000 new ordinary shares (the \"PrimaryBid Offer Shares\") at \n the Issue Price\n via the PrimaryBid Offer. Completion and settlement of the PrimaryBid Offer remains subject to, amongst other things, admission of the PrimaryBid Offer Shares and the new ordinary shares to be issued pursuant to the Firm Placing to AIM becoming effective (...