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Time Out Group plc granted options over 500,000 ordinary shares to Chief Financial Officer Matt Pritchard on 1 February 2024. These options have an exercise price of £0.53 and vest one third on each of the three anniversaries following the award date, resulting in Matt Pritchard holding aggregate options over 3,000,000 ordinary shares.
| Date | 23 Oct 2024 |
| Time | 17:08:10 |
| Category | Director/PDMR dealings |
| ID | 3653J |
23 October 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
Time Out Group plc (AIM: TMO), announces that on 1 February 2024, the Company granted options over 500,000 ordinary shares of £0.001 each in the Company (the "Options") to Matt Pritchard, Chief Financial Officer.
The Options were awarded pursuant to the Company's Long Term Incentive Plan, have an exercise price of £0.53, vesting one third on each of the three anniversaries following the award date.
Following the award, Matt Pritchard has options (subject to meeting relevant conditions) over 3,000,000 ordinary shares in aggregate.
The information set out below is provided in accordance with the requirements of the UK Market Abuse Regulation.
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Matthew Pritchard |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Financial Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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3 |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
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a) |
Name |
Time Out Group PLC |
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b) |
LEI |
213800BWH4OF8S4R8K10 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of £0.001 each ISIN: GB00BYYV0629
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b) |
Nature of the transaction |
Grant of options over Ordinary Shares |
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c) |
Price(s) and volume(s) |
Price (£) |
Volume(s) |
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Option exercise price of £0.53 |
500,000 |
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d) |
Aggregated information · Aggregated Volume · Price |
· N/a single transaction · N/a |
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e) |
Date of the transaction |
1 February 2024 |
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f) |
Place of the transaction |
Outside a trading venue |
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For further information, please contact: |
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Time Out Group plc |
Tel: +44 (0)207 813 3000 |
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Chris Ohlund, CEO Matt Pritchard, CFO |
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Steven Tredget, Investor Relations Director |
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Panmure Liberum (Nominated Adviser and Broker) |
Tel: +44 (0)203 100 2222 |
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Andrew Godber / Edward Thomas / Joshua Borlant / Ailsa MacMaster |
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FTI Consulting LLP |
Tel: +44 (0)203 727 1000 |
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Edward Bridges / Fiona Walker |
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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 nine 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.