Grant of Options

RNS Number : 0836O
Time Out Group plc
05 February 2021
 

05 February 2021

 

Time Out Group Plc

("Time Out" or the "Company")

 

Grant of Options

 

Time Out Group plc (AIM: TMO), the global media and entertainment business, and its Remuneration Committee announce that on 05 February 2021, 2,000,000 nil cost options (the "Options") have been granted to Lord Rose of Monewden, Non-Executive Director of the Company, as follows:

 

Name

Options subject to service only

 

Options subject to share price targets

 

Lord Rose of Monewden

 

600,000

1,400,000

 

The Options are issued under the Time Out Group plc Long Term Incentive Plan. 30% of the award will vest in equal instalments over a three-year period subject to continued service. 70% of the award will vest subject to share price hurdles being met over a three-year period. The Options expire 10 years post grant. Lord Rose previously participated in the Time Out Market Limited equity incentive plan which is terminating simultaneously with the grant of the Options.

 

 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

 

Lord Rose of Monewden

 

2

Reason for the notification

 

a)

Position/status

 

Non-Executive Director

 

b)

Initial notification/ Amendment

 

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

 

Time Out Group plc

b)

LEI

 

213800BWH4OF8S4R8K10

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

 

a)

Description of the financial instrument, type of instrument

 

 

Identification code

 

Options over Ordinary shares of £0.001 in Time Out Group plc

 

 

 

 

 

ISIN: GB00BYYV0629

b)

Nature of the transaction

 

Grant of options under Time Out Group plc Long Term Incentive Plan

c)

Price(s) and volume(s)

 

£N/A GBP

 

2,000,000

 

d)

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

 

n/a

 

 

£N/A GBP

 

e)

Date of the transaction

 

05 February 2021

f)

Place of the transaction

 

London

 

 

For further information, please contact:

 

 

Time Out Group plc

Tel: +44 (0) 207 813 3000

Julio Bruno, CEO

 

Steven Tredget, Investor Relations Director

 

 

 

Liberum (Nominated Adviser and Broker)

Tel: +44 (0) 203 100 2222

Clayton Bush / Andrew Godber / Edward Thomas

 

 

 

FTI Consulting LLP

Tel: +44 (0) 203 727 1000

Edward Bridges / Stephanie Ellis / Fiona Walker

 

 

 

Notes to editors

 

About Time Out Group plc

Time Out Group 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. Time Out launched in London in 1968 with a magazine to help people discover the exciting new urban cultures that had started up all over the city. Today, the Group's digital and physical presence comprises websites, mobile, magazines, live events and Time Out Market. Across these platforms Time Out distributes its curated content - written by professional journalists - around the best food, drink, culture, entertainment and travel across 327 cities in 58 countries. Time Out Market is a food and cultural market which brings the best of the city under one roof: its best chefs, drinks and cultural experiences - based on editorial curation. The first Time Out Market opened in Lisbon in 2014 and Miami, New York, Boston, Montreal and Chicago followed in 2019 with a further pipeline in other global locations. Time Out Group, listed on AIM, is headquartered in the United Kingdom.

 

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