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(Alliance News) - Oakley Capital Investments Ltd on Friday said its direct shareholding in London-based publisher and food markets operator Time Out Group PLC has increased as a result of a transfer of shares.
The Bermuda-based firm, which provides access to private equity investments of Oakley funds, said Fund I has transferred its shares in Time Out in-specie to its investors.
As a result, OCI's direct stake in Time Out has risen to 38.06% from 19.97%. This represents a total of 5.8% of OCI's net asset value at September 30, it said.
The ownership of the members of the Oakley concert party, which includes OCI, has reduced to 41.9% from 45.3% following the transfer, however.
OCI noted that Time Out's prospects "remain attractive".
Shares in OCI were down 0.5% at 493.00 pence each in London on Friday morning, while Time Out shares were untraded at 53.15p each.
Time Out shares are up 42% in the past year, though down 22% over the past five years.
By Sabrina Penty, Alliance News reporter
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