REG - Team PLC - Loan Note

TeamAnnouncement

28/09/2023 07:00

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RNS Number : 9091N  Team PLC  28 September 2023

 28 September 2023

 

TEAM PLC

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

 

  Issue of Loan Notes to raise £425,000

TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial
services group, is pleased to announce that it has raised £4250,000 via the
issue of unsecured loan notes (the "Loan Notes") to certain existing
shareholders of the Company.

 

The Company's executive directors, Mark Clubb, Chairman, and Matthew Moore,
Chief Financial Officer and Chief Operating Officer, are  subscribing for
£150,000 and £25,000 respectively.

 

The proceeds of the Loan Notes will be used for additional working capital to
support the integration of Globaleye Wealth Management Group which was
acquired by the Company on 1 June 2023.

 

Terms of the Loan Notes

 

The Loan Notes are repayable on 31 December 2024 (the "Repayment Date") and
interest will roll up and be repaid on maturity. The interest payable on the
Loan Notes is 12%.

 

The Company can repay the Loan Notes prior to the Repayment Date, (at par plus
accrued interest) at any time without penalty. The Loan Noteholders cannot
request early repayment. The Loan Notes do become repayable, on demand, if the
Company suffers an event of default.

 

Enquiries to

 TEAM plc                                                                 +44 1534 877 210

 Mark Clubb, Executive Chair

 Matthew Moore, CFO and COO

 Shore Capital (Nominated Adviser and Broker)                             +44 20 7523 8000

 Tom Griffiths, Iain Sexton, Guy Wiehahn

 Novella Communications (Financial Public Relations)                      +44 20 3151 7008

 Tim Robertson, Claire de Groot, Safia Colebrook

 Hannam & Partners (Financial Adviser)                                    +44 20 7907 8500

 Giles Fitzpatrick, Ernest Bell, Richard Clarke

www.teamplc.co.uk
(https://url.avanan.click/v2/___http:/www.teamplc.co.uk___.YXAxZTpzaG9yZWNhcDphOm86NTBkODM5NDVhYzUyMjRjNDQwMTMyNWUyM2NkMjkwNDM6NjpmMGY2OmE3NmNlYjYzYmFhYjIwYzc2ODI1ZjkwYjQxODQ1ZjgwZjRhNGNiMWM4M2IwNTQ5Y2JlZWFmMjg2OGFjZWMyNWI6cDpU)

Background

TEAM plc is building a new wealth, asset management and complementary
financial services group. With a focus on the UK, Crown Dependencies and
International Finance Centres, the strategy is to build local businesses of
scale around TEAM plc's core skill of providing investment management
services. Growth will be achieved via targeted and opportunistic acquisitions,
through team and individual hires, through collaboration with suitable
partners, and organic growth and expansion.

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