Grant of Options
Updated : 07:00
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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