REG - Team PLC - Result of AGM and Issue of New Shares

TeamAnnouncement

17/04/2024 16:00

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RNS Number : 0217L  Team PLC  17 April 2024

17 April 2024

 

 

Result of AGM,

Issue of New Ordinary Shares and Vesting of Director Awards

 

Team plc ("TEAM" or the "Company"), the wealth, asset management and
complementary financial services group,  is pleased to announce that all
resolutions proposed at the Company's Annual General Meeting, held earlier
today, were duly passed.

 

The votes received from shareholders on each resolution, via proxy and
shareholders present at the meeting, are set out below:

 

 Resolution  For                       Against                Total Votes Cast
             Votes       % Votes Cast  Votes    % Votes Cast
 1           12,616,451  100.00        0        0.00          12,616,451
 2           12,616,451  100.00        0        0.00          12,616,451
 3           12,603,451  100.00        0        0.00          12,603,451
 4           12,597,972  99.90         13,000   0.10          12,610,972
 5           12,603,451  100.00        0        0.00          12,603,451
 6           12,603,451  100.00        0        0.00          12,603,451
 7           11,853,591  94.09         744,381  5.91          12,597,972
 8           12,616,451  100.00        0        0.00          12,616,451

 

Issue of New Ordinary Shares, AIM application and Directors' shareholdings

 

Further to shareholder approvals at the AGM, the Company shall issue the
following new Ordinary Shares:

 

-      6,231,500 new Ordinary Shares pursuant to the Placing,
Subscription and WRAP Retail Offer;

 

-      3,281,250 new Ordinary Shares pursuant to conversion of the
£1.181m nil coupon convertible loan issued to John Beverley as initial
consideration for the acquisition of Neba Financial Solutions Ltd and Neba
Financial Solutions Private Ltd, announced on 12 December 2023; and

 

-      36,550 new Ordinary Shares pursuant to the vesting of the initial
third of the Executive Director bonus awards for the financial period to 30
September 2022 ("Awards"), comprising 13,158 new Ordinary Shares to Mark
Clubb, Executive Chair, and 23,392 new Ordinary Shares to Matthew Moore, Chief
Financial Officer.

 

Application has been made the London Stock Exchange for admission to trading
on AIM  for the aggregate 9,549,300 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 19 April 2024. 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.

 

Following issue of the above issues of new Ordinary Shares, Mr Clubb will be
interested in 4,030,018 Ordinary Shares and Mr Moore will be interested in
23,392 Ordinary Shares, representing 10.19% and 0.06% of the Company's issued
ordinary share capital as enlarged by Admission.

 

Total Voting Rights

 

Following Admission, the Company's issued share capital will comprise of
39,554,514 Ordinary Shares, none of which are held in treasury. Accordingly,
the figure of 39,554,514 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.

 

Terms used but not defined in this announcement have the same meaning as set
out in the Company's announcements released at 07:01 and 07:02 on 28 March
2024.

For further information, please contact:

 Team plc                                               https://www.teamplc.co.uk (https://www.teamplc.co.uk)

 Mark Clubb, Executive Chair                            +44 1534 877 210

 Matthew Moore, CFO and COO

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

 Giles Fitzpatrick

 Oberon Capital (Broker)                                +44 20 3179 0500

 Adam Pollock, Michael Seabrook, Jessica Cave
                                                        +44 207 409 3494

 Strand Hanson (Nominated Adviser)

 Richard Johnson, James Spinney, David Asquith
                                                        +44 20 3151 7008

 Novella Communications (Financial Public Relations)

 Tim Robertson, Claire de Groot, Safia Colebrook

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

 

The following disclosures are made in accordance with Article 19 of the EU
Market Abuse Regulation 596/2014.

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1.     Mark Clubb

                                                                  2.     Matthew Moore
 2.  Reason for the notification
 b)  Position / status                                            1.     Executive Chairman

                                                                  2.     Chief Financial Officer
 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)                                 Vesting of portion of 2022 bonus awards
 c)  Price(s) and volume(s)                                       Price(s)         Volume(s)
                                                                  1.     Nil       1.     13,158

                                                                  2.     Nil       2.     23,392
 d)  Aggregated information

     -     Aggregated volume                                      n/a

     -     Price
 e)  Date of the transaction                                      17 April 2024
 f)  Place of the transaction                                     Off-exchange

d)

Aggregated information

-     Aggregated volume

-     Price

 

n/a

e)

Date of the transaction

17 April 2024

f)

Place of the transaction

Off-exchange

 

 

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