CIP Merchant Capital Ltd - Guernsey-based investment company - Acquires 1.8 million shares in Time Out Group PLC for GBP1.0 million in total, reflecting a 0.5% interest in the London-based media and leisure company.
"The board of CIP notes Time Out's increased focus on real estate and physical location markets and believes that this aspect of its strategy will be a primary growth area for the business and enable it to benefit from the post-Covid economic recovery in due course," the company says.
Current stock price: 48.30 pence
Year-to-date change: down 4.4%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Time Out (TMO)