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TEAM plc shareholders passed all resolutions at an Extraordinary General Meeting held on January 24, 2025, with 99.94% of votes cast in favour of each resolution. The Company will issue a total of 1,590,774 new Ordinary Shares, including 93,693 shares as bonus awards to Executive Chair Mark Clubb (13,158) and CFO Matthew Moore (80,535). Application for admission of these new shares to AIM is expected on or around January 27, 2025, after which the Company's issued share capital will comprise 51,086,157 Ordinary Shares.
| Date | 24 Jan 2025 |
| Time | 15:25:00 |
| Category | AGMs and other meetings |
| ID | 6724U |
24 January 2025
("TEAM", the "Company" or the "Group")
Result of Extraordinary General Meeting
TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, is pleased to announce that all resolutions proposed at the Company's Extraordinary 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 |
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|
|
Votes |
% Votes Cast |
Votes |
% Votes Cast |
|
|
1 |
30,664,576
|
99.94%
|
18,502
|
0.06%
|
30,664,576
|
|
2 |
30,664,576
|
99.94%
|
18,502
|
0.06%
|
30,664,576
|
Issue of new Ordinary Shares, AIM application and Directors' shareholdings
Further to shareholder approvals at the EGM, the Company shall issue the following new Ordinary Shares:
· 1,497,081 new Ordinary Shares pursuant to the Placing, Subscription and WRAP Retail Offer; and
· 93,693 new Ordinary Shares pursuant to the vesting of the Executive Director bonus awards for the financial periods to 30 September 2022 and 2023 ("Awards"), comprising 13,158 new Ordinary Shares to Mark Clubb, Executive Chair, and 80,535 new Ordinary Shares to Matthew Moore, Chief Financial Officer and Chief Operating Officer.
Application has been made the London Stock Exchange for admission to trading on AIM for the aggregate 1,590,774 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 January 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.
Following issue of the above issues of new Ordinary Shares, Mr Clubb will be interested in 4,173,158 Ordinary Shares and Mr Moore will be interested in 503,927 Ordinary Shares, representing 7.96% and 0.96% 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 51,086,157 Ordinary Shares, none of which are held in treasury. Accordingly, the figure of 51,086,157 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 on 3 December 2024 and 23 December 2024.
For further information, please contact:
Enquiries to
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TEAM plc Mark Clubb, Executive Chair Matthew Moore, CFO and COO
|
|
|
Strand Hanson (Nominated Adviser to TEAM) Richard Johnson, James Spinney, David Asquith |
+44 207 409 3494 |
|
Oberon Capital (Broker to TEAM) Michael Seabrook, Adam Pollock, Jessica Cave |
+44 20 3179 0500 |
|
Novella Communications (Financial Public Relations) Tim Robertson, Claire de Groot, Safia Colebrook |
+44 20 3151 7008 |
|
Hannam & Partners (Financial Adviser to TEAM) Giles Fitzpatrick, Richard Clarke |
+44 20 7907 8500 |
The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
1. Mark Clubb 2. Matthew Moore |
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2. |
Reason for the notification |
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b) |
Position / status |
1. Executive Chairman 2. CFO and COO |
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c) |
Initial notification / amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
TEAM plc |
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b) |
LEI |
213800EP1CI5ANR7RP18 |
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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 |
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|
a) |
Description of the financial instrument, type of instrument Identification Code |
Ordinary Shares of no par value
|
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|
b) |
Nature of the transaction(s) |
Vesting of bonus awards |
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c) |
Price(s) and volume(s) |
|
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d) |
Aggregated information - Aggregated volume - Price |
n/a |
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e) |
Date of the transaction |
27 January 2025 |
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f) |
Place of the transaction |
Off-exchange
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