AIM Rule 26

Find out more about Time Out Group

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Business description

Time Out Group is a global media and hospitality business that inspires and enables people to explore and enjoy the best of the city.

It all began in London in 1968 when Time Out helped people discover the exciting new urban cultures that had started up all over the capital. Since then, this iconic brand has consistently maintained its status as the go-to source of inspiration for both locals and visitors alike. Find out more about our history here.

Time Out Group comprises two highly synergistic business divisions: Time Out Media and Time Out Market.

Time Out Media’s digital and physical media proposition comprises websites, social media, print and live events. Across these platforms, Time Out distributes its high-quality content – written and curated by local expert journalists – around the best food, drinks, culture, art, music, theatre, travel and entertainment in 333 cities and 59 countries. The Company is monetising this global reach and its strong traffic from a desirable audience via digital and print advertising as well as e-commerce. Since its launch over 50 years ago, Time Out has become a global brand that advertisers and consumers love and trust.

Time Out Market is a food and cultural market leveraging the Time Out brand to bring the best of the city under one roof: its best chefs, drinks and cultural experiences – based on the editorial curation Time Out has always been known for. The first Time Out Market opened in 2014 in a historic market hall in Lisbon, quickly turning into the most popular destination in the city with 4m visitors a year.

The success of Lisbon brought further expansion in North America, with Time Out Market opening in five major cities in 2019: Miami, New York, Boston, Montreal and Chicago. In 2021, Time Out Market expanded into the Middle East with Time Out Market Dubai, and more Time Out Market locations are in the pipeline including Porto, Abu Dhabi, Prague, Osaka, London and more.

Across both business divisions, the Group’s mission is to help people around the world go out better. 

Time Out is headquartered in London (United Kingdom) and listed on London's AIM stock exchange, trading under the ticker symbol 'TMO'.

Company directors

Peter Dubens, Non-Executive Chairman

Peter Dubens, Non-Executive Chairman

Mr Dubens joined the Group in November 2010 as a NonExecutive Director and was appointed NonExecutive Chairman in May 2016. Mr Dubens is the founder and Managing Partner of the Oakley Capital Group, a privately owned asset management and advisory group comprising Private Equity, Venture Capital and Corporate Finance operations managing €3.0 billion. Mr Dubens founded Oakley Capital in 2002 to be a best of breed, entrepreneurially driven investment house, creating an ecosystem that supports the companies the Oakley Capital Group invests in, whether they are early-stage companies or established businesses. The vision of Oakley Capital has always been to encourage and back entrepreneurship. To that end, Oakley Capital Private Equity invests in and supports the continued growth and development of some of Europe’s leading companies, including the iconic sailing brand, North Sails and Facile, Italy’s leading price comparison website. Mr Dubens has substantial AIM company experience, he is a director of Oakley Capital Investments plc and previously held the position of Chairman of Pipex Communications plc and 365 Media Group plc.

Chris Ohlund, Group Chief Executive Officer
Chris Ohlund

Chris Ohlund, Group Chief Executive Officer

Mr Ohlund has over 25 years of leadership experience in international digital businesses ranging from leading media brands, consumer platforms and film production. He has served on various boards including as Chairman of then-publicly listed Ricardo (part of Tradus) – which was eventually sold to Naspers for $1.9 billion. Mr Ohlund served as Non-Executive Director at Oscar-winning Condor Films in Switzerland, London-based internet start-up Shutl.com (until its sale to eBay), Facile and Casa in Italy and currently serves on the board of the UK’s leading PropTech, Residently.

As CEO of Germany’s leading online comparison portal Verivox, his innovative transformation leadership quadrupled annual revenue and increased enterprise value sixfold to over €500 million during his tenure of six years. Previously he turned around the digital business unit of “Blick”, a daily Swiss newspaper, to become the number one digital news portal in Switzerland, including developing number one apps in news, sports and entertainment. Prior he served as CEO of logistics firm DPD with annual revenues in excess of €1 billion and a workforce of 11,000 strong.

Lord Rose of Monewden, Non-Executive Director

Lord Rose of Monewden, Non-Executive Director

Lord Rose joined the Group in December 2015 as Chairman of Time Out Market Limited and was appointed as a NonExecutive Director in June 2016. Lord Rose has led a distinguished career in retail for over 40 years, including as Chief Executive and then Chairman of Marks & Spencer plc (2004-2010). Lord Rose has also held Chief Executive positions at Arcadia Group plc, Booker plc, and Argos plc. Lord Rose is the current Chairman of Fat Face Group, Majid Al Futtaim Retail, Dressipi and Ocado. Lord Rose was knighted for services to the retail industry and corporate social responsibility in 2008 and was elevated to the House of Lords in 2014. Lord Rose is a member of the Audit Committee and the Remuneration Committee.

Alexander Collins, Non-Executive Director

Alexander Collins, Non-Executive Director

Mr Collins joined the Group in November 2010 as a NonExecutive Director. Mr Collins is a Partner at Oakley Capital Private Equity and has 20 years of private equity investment and operational experience, including originating and structuring transactions in a range of sectors and geographies, including growth equity, MBOs, restructuring and turnaround situations. Mr Collins joined Oakley Capital Private Equity in 2007 as one of the founding partners and has been an investment and board director of a range of international businesses, including Host Europe, Emesa, Intergenia, Verivox, North Sails and Facile. Prior to joining Oakley Capital Private Equity, Mr Collins started his career at GE Capital in 1995 before being seconded to Advent International for two years as an Associate Director. He subsequently joined Henderson Private Capital as Principal and was then a Partner at Wharfedale Capital, where he was involved in the purchase of secondary direct private equity assets. Mr Collins holds an MSc from the London School of Economics and a BA in Economic History from Union College, New York.

David Till, Non-Executive Director
David Till

David Till, Non-Executive Director

David Till co-founded the Oakley Capital Group in 2002 with Peter Dubens. David plays a key role within the Group and has overall responsibility for operations, finance, due diligence, compliance and fund formation. David holds a BA (Hons) in Economics from Essex University, qualified as a chartered accountant with Coopers & Lybrand and worked in industry as a finance director, before returning to the profession holding senior M&A roles before co-founding Oakley Capital.

Corporate governance

Please see our corporate governance page.

Country of incorporation and main country of operation

Country of incorporation: England and Wales Company registration number : 07440171 Main country of operation: United Kingdom

UK takeover code

The Company is subject to the UK City Code on Takeovers and Mergers.

Company documents

Please see our corporate documents page.

Details of restrictions on the transfer of securities

There are no restrictions on the transfer of ordinary shares.

Details of any other exchanges or trading platforms

The securities of the Company are traded on the AIM market operated by the London Stock Exchange plc. Its shares have not been admitted, nor have any applications been made, for any of its shares to be admitted or traded on any other exchanges or trading platform.

Number of securities in issue

AIM securities in issue: 335,582,084.

In accordance with AIM Rule 26, in so far as the Company is aware as at 27 January 2022, the percentage of the Company's issued share capital that is not in public hands is 70.98%.

Major shareholders

Name %
Lombard Odier Asset Management Limited
25.36%
Oakley Capital Private Equity Limited
23.98%
Oakley Capital Investment Limited
20.10%
Richard Caring 
5.95%
Lansdowne Partners (UK) Limited
4.02%
   


Annual and interim financial reports

Please see our corporate documents page.

Regulatory news

Please see our regulatory news page.

For further information, please contact:

Time Out Group plc | Investor_Relations@timeout.com | Tel: +44 (0) 207 813 3000

Adviser information

Please see our adviser contacts page.

Date on which information was last updated

This information was last updated on 7 February 2022.

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