REG - Team PLC - Equity Subscription

TeamAnnouncement

21/03/2025 14:30

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RNS Number : 7277B  Team PLC  21 March 2025

21 March 2025

 

 

("TEAM", the "Company" or the "Group")

 

Equity Subscription

TEAM plc (AIM: TEAM), the wealth, asset management and complementary
financial services group, is pleased to announce that the Company is issuing
2,800,000 new ordinary shares of no par value in the Company ("Ordinary
Shares"), pursuant to a direct subscription (the "Subscription") at a price of
10 pence per share, being the Company's most recent fundraising price. The new
Ordinary Shares, which will represent c. 4.5 per cent. of the Company's issued
shares as enlarged by the Subscription, will be issued under the Company's
existing share authorities.

The proceeds of the Subscription amounting to £0.28 million will be used to
provide cash for working capital and general corporate purposes.

AIM Application

Application will be made to the London Stock Exchange for admission to trading
on AIM for the 2,800,000 new Ordinary Shares detailed above ("Admission"),
and Admission is expected to become effective and trading will commence in the
new Ordinary Shares on or around 27 March 2025. The new Ordinary Shares will
be issued free of all liens, charges and encumbrances and will, on Admission,
rank pari passu in all respects with the Company's existing Ordinary Shares.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise of
61,540,022 Ordinary Shares, none of which are held in treasury. Accordingly,
the figure of 61,540,022   may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 For further information, please contact:

 Team plc                                            Tel: +44 (0) 1534 877210
 Mark Clubb

 Strand Hanson (Nominated Advisor)                   Tel: +44 20 7409 3494
 Richard Johnson / James Spinney / David Asquith

 Novella Communications (Financial PR)               Tel: +44 20 3151 7008
 Tim Robertson / Safia Colebrook                     team@novella-comms.com (mailto:team@novella-comms.com)

Further information on the Company can be found on its website
at www.teamplc.co.uk (http://www.teamplc.co.uk/)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act 2018,
as amended.

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