REG - Team PLC - Fund Raise and Issue of Equity

TeamAnnouncement

03/03/2025 07:15

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RNS Number : 9828Y  Team PLC  03 March 2025

3 March 2025

 

 

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

 

Successful Fund Raise, New Strategic Investor and Issue of Equity

Settlement of Deferred Consideration and Directors' Share Issues

Subscription

TEAM plc (AIM: TEAM), the wealth, asset management and complementary
financial services group, is pleased to announce a successful fundraising
round with new strategic investors VT EPIC MA Growth Fund and VT EPIC Wealth
Fund.

The Company is issuing 5,686,750 new ordinary shares of no par value in the
Company ("Ordinary Shares"), pursuant to direct subscriptions at a price of 10
pence per share, being the Company's most recent fundraising price (the
"Subscription"). The new Ordinary Shares will be issued under the Company's
existing share authorities.

The proceeds of the Subscription amounting to £0.57 million will be used to
provide cash for working capital and general corporate purposes.

Settlement of Deferred Consideration

The Company is issuing 1,000,000 new Ordinary Shares to part settle
outstanding deferred consideration due to the vendors of Omega Financial
Services Limited, acquired by the Company on 1 December 2021.

Director Bonus Shares

The Company is issuing in aggregate 1,267,115 new Ordinary Shares pursuant to
the unpaid balance of Executive Director bonus awards, due in shares, for the
2022, 2023 and 2024 financial years ("Director Shares"), comprising 571,298
new Ordinary Shares to Mark Clubb, Executive Chair, and 695,817 new Ordinary
Shares to Matthew Moore, Chief Financial Officer. The issue of the Director
Shares has been determined by the Remuneration Committee as tax-efficient for
the Company.

Following the issue of the Director Shares, Mr Clubb will be interested in
4,744,456 Ordinary Shares and Mr Moore will be interested in 1,199,744
Ordinary Shares, representing, respectively, 8.07% and 2.04% of the Company's
issued ordinary share capital as enlarged by Admission.

Mark Clubb, Chairman of TEAM said;

"I am delighted to welcome EPIC as our new shareholder and support for our
strategy to deliver long-term value. This fundraise further strengthens our
business, providing the capital needed to drive growth, and enhance our
capabilities. We look forward to making further updates to shareholders as we
continue to make progress.

AIM Application

Application has been made to the London Stock Exchange for admission to
trading on AIM for the 7,953,865 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 4 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
58,740,022 Ordinary Shares, none of which are held in treasury. Accordingly,
the figure of 58,740,022 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 / Matthew Moore

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

 Oberon Capital (Joint Broker to TEAM)                 Tel: +44 20 3179 0500

 Michael Seabrook, Adam Pollock, Jessica Cave

 Hannam & Partners (Financial Advisor to TEAM)         Tel: +44 20 7907 8500
 Giles Fitzpatrick / Richard Clarke

 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.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

This announcement is made in accordance with the UK Market Abuse Regulation
(Regulation (EU) 596/2014, as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018).

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1.    Matthew Moore

                                                                  2.    Mark Clubb
 2.  Reason for the notification
 b)  Position / status                                            1.    Chief Financial Officer

                                                                  2.    Executive Chairman
 c)  Initial notification / amendment                             Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         TEAM plc
 b)  LEI                                                          213800EP1CI5ANR7RP18
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary Shares of no par value

     Identification Code                                          ISIN: JE00BM90BX45
 b)  Nature of the transaction(s)                                 Issue of Ordinary Shares pursuant to Executive Director bonus awards
 c)  Price(s) and volume(s)                                       Price(s)       Volume(s)
                                                                  1.    n/a      1.    695,817

                                                                  2.    n/a      2.    571,298
 d)  Aggregated information

     -     Aggregated volume                                      1,267,115 Ordinary Shares

     -     Price                                                  -as above
 e)  Date of the transaction                                      3 March 2025
 f)  Place of the transaction                                     London Stock Exchange, AIM

d)

Aggregated information

-     Aggregated volume

-     Price

 

1,267,115 Ordinary Shares

-as above

e)

Date of the transaction

3 March 2025

f)

Place of the transaction

London Stock Exchange, AIM

 

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