Time Out Group plc Company Update (2331G)
March 16 2020 - 3:00AM
UK Regulatory
TIDMTMO
RNS Number : 2331G
Time Out Group plc
16 March 2020
16 March 2020
Time Out Group plc
("Time Out" or the "Company")
Company Update
Time Out has until now not experienced any material impact on
its trading related to the COVID--19 outbreaks. It is only in very
recent days that we have observed any change in footfall to the
Time Out Markets and delays to advertising campaigns.
We have however been closely monitoring events and in response
to local government guidelines and in the interest of customer
safety we have temporarily closed the five Time Out Markets in
Lisbon and the USA and await further advice. Given the uncertainty
of the situation it is not currently possible to quantify the full
trading impact of COVID-19, which will be highly dependent on the
duration and severity of the virus and the response by governments
and consumers.
The Company will review its funding and ability to manage its
cost base to meet the challenges of the current trading environment
and will update further on 26 March 2020 with the publication of
its results for the year ended 31 December 2019.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (MAR).
-ENDS-
For further information, please contact:
Time Out Group plc Tel: +44 (0)207
813 3000
Julio Bruno, CEO
Adam Silver, CFO
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
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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