Time Out Group plc announced a private placement of short-term unsecured loan facility of up to ú8 million bearing interest at a rate of ten per cent. per annum on August 24, 2022. The transaction included participation from returning investor Oakley Capital Investments Limited.

Funds drawn under the Facility together with accrued interest will be repayable by 30 November 2022. The terms of the Facility include an interest rate of 10 per cent. per annum on drawn funds and commitment fees of 2 per cent.

per annum on undrawn funds. The Facility arrangement fee is 0.5 per cent. of the amount of the Facility.