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TEAM plc announced an equity subscription on 21 March 2025, issuing 2,800,000 new ordinary shares at 10 pence each, raising £0.28 million. These new shares will represent approximately 4.5% of the enlarged issued share capital. Application for admission to AIM is expected on or around 27 March 2025, after which the total issued share capital will be 61,540,022 ordinary shares.
| Date | 21 Mar 2025 |
| Time | 14:15:55 |
| Category | Miscellaneous |
| ID | 7277B |
21 March 2025
("TEAM", the "Company" or the "Group")
Equity Subscription
TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, is pleased to announce that the Company is issuing 2,800,000 new ordinary shares of no par value in the Company ("Ordinary Shares"), pursuant to a direct subscription (the "Subscription") at a price of 10 pence per share, being the Company's most recent fundraising price. The new Ordinary Shares, which will represent c. 4.5 per cent. of the Company's issued shares as enlarged by the Subscription, will be issued under the Company's existing share authorities.
The proceeds of the Subscription amounting to £0.28 million will be used to provide cash for working capital and general corporate purposes.
AIM Application
Application will be made to the London Stock Exchange for admission to trading on AIM for the 2,800,000 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 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 61,540,022 Ordinary Shares, none of which are held in treasury. Accordingly, the figure of 61,540,022 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:
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Team plc |
Tel: +44 (0) 1534 877210 |
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Mark Clubb |
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Strand Hanson (Nominated Advisor) |
Tel: +44 20 7409 3494 |
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Richard Johnson / James Spinney / David Asquith |
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Novella Communications (Financial PR) |
Tel: +44 20 3151 7008 |
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Tim Robertson / Safia Colebrook |
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Further information on the Company can be found on its website at 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.