Previously writing on Time Out Group (TMO), in August I noted short-term loan facility, how’s that balance sheet set then?. Today the “global media and hospitality business” has announced results for its year ended 30th June 2022, headlined “Positioned for further profitable growth and back on pre-pandemic trajectory”. Is it?
Previously writing on “global media and hospitality business” Time Out Group (TMO), last year I wrote General Meeting approval for (as warned here) material dilution – concluding that with the shares up to around 50p, capitalising the group at circa £166 million, and a profitable business proposition still to be proven I certainly continued to avoid. Today the shares are 41p on the back of a “Loan Facility” announcement.
Previously writing on visitor-related media and marketplaces group and former Woodford pick Time Out (TMO) I noted it is (as warned here) material dilution ahoy again. There has now been “Results of General Meeting, Placing and Open Offer”...
I noted on Time Out Group (TMO) last week a former Woodford pick with an intra-day ‘London Waterloo & funding update’. Uh oh.... Today results for its half-year ended 31st December 2020 and a proposed equity raise. Uh oh again?...
Previously writing on former Woodford pick Time Out Group (TMO), in June with the shares around 40p I concluded that I retained prior markets visit “appealing proposition” and financial scepticism... and now a “Time Out Market London (Waterloo) & funding update”-titled announcement from the group made intra-day (10:05am). Uh oh...
Time Out (TMO) has updated that “6,135,967 new ordinary shares were taken up under the open offer, including open offer shares applied for pursuant to the excess application facility, raising gross proceeds of approximately £2.1 million”. The shares have currently responded trading at around 40p...