Convertible Loan Notes

5 December  2024

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF TEAM PLC IN ANY JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF EU REGULATION NO. 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

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

 Convertible Loan Notes

Fundraising Update

TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, is pleased to announce that it is raising £250,000 through the subscription for unsecured convertible loan notes at par value.

Details of the Convertible Loan Notes:

·    A further £250,000 is to be subscribed by Growth Financial Services, a Harwood Capital Management LLP subsidiary ("Noteholder"), the holder of the existing CLN (the "Original CLN") on the same terms as announced on 7 May 2024, save that Original CLN and further CLN have a five-year maturity reset to December 2029, and a revised conversion price of 15 pence per share for the full amount of the CLN (was 25 pence per Share previously)

·    On the Maturity Date, any Convertible Loan Notes that have not been converted into Ordinary Shares must be repaid by the Company at par, together with any accrued interest

·    The CLN will not be listed on any market or stock exchange but can be transferred by a noteholder

Update to Equity Fundraise:

Additionally, subsequent to the Company's announcement on 3 December 2024 with regards to the Equity Fundraise, the Company has received additional demand, and therefore will issue an additional 150,000 new Ordinary Shares utilising the Company's existing authority to allot shares for cash on a non-pre-emptive basis. Application has been made to the London Stock Exchange for admission to trading on AIM of the additional 150,000 new Ordinary Shares and dealings are expected to commence on or around Tuesday 10 December 2024.

The total Equity Fundraise will therefore be for 10,815,869 new Ordinary, of which 9,665,869 new Ordinary Shares will be admitted to trading today as previously announced, 150,000 new Ordinary Shares are expected to be admitted to trading on or around Tuesday 10 December 2024 and the remaining 1,000,000 new Ordinary Shares will be issued and admitted to trading on AIM subject to General Meeting in January 2025.

Together, the Equity Fundraise and the £250,000 CLN have raised £1,331,686.90 gross proceeds which the Company will use for funding towards financing of deferred consideration, as well as providing cash for working capital and general corporate purposes.

The WRAP Retail Offer for up to 1,500,000 new Ordinary Shares remains open and  is expected to close at 4:30pm on 9 December 2024.

Total Voting Rights:

Following First Admission at 8.00 a.m. today the Company's issued and fully paid share capital will consist of 49,345,383 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company at this date will be 49,345,383 Ordinary Shares.

 Following admission of the additional 150,000 new Ordinary Shares at 8.00 a.m. on or around Tuesday 10 December 2024 the Company's issued and fully paid share capital will consist of 49,495,383 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company at this date will be 49,495,383 Ordinary Shares.

Capitalised terms in this announcement have the same meaning as defined in the Equity Fundraising announcement on 3 December 2024 unless defined otherwise.

 For further information, please contact:

Enquiries to

www.teamplc.co.uk