Sch 1 update - Team plc | RNS | Ticker

Sch 1 update - Team plc

RNS Announcement

RNS Number : 0759R

AIM

03 March 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

TEAM plc ("TEAM" or "the Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

Royal Court Chambers

10 Hill Street

St Helier

Jersey JE2 4UA

COUNTRY OF INCORPORATION:

Jersey

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.teamassetmanagement.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Company wholly owns Theta Enhanced Asset Management Limited, trading as TEAM Asset Management ("TEAM Jersey"). TEAM Jersey is a Jersey based specialist, investment-led active fund manager currently providing discretionary and advisory portfolio management services to private clients.

TEAM Jersey was founded in Jersey in 2001 and is regulated by the Jersey Financial Services Commission ("JFSC") to conduct investment business and fund services business.

The Company's strategy is to promote the continued growth of the group into a leading independent private client discretionary asset manager. It is expected that the group's growth will be achieved through the continued organic growth of assets under management ("AUM"), the acquisition of AUM through the recruitment of individuals and teams and a buy and build strategy to acquire private client discretionary asset management businesses and complementary service providers, both onshore and offshore.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of securities to be admitted: 16,559,334

Type and nominal value of securities: Ordinary shares of nil par value (NPV)

Issue price: 88 pence

Shares in treasury: None

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on admission: £7.50 million primary, £0.26 million secondary

Anticipated market capitalisation on admission: £14.6 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

46.1%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Jonathan Mark Gordon Clubb, Executive Chairman

Louis Philip Chetwynd Taylor, Senior Independent Non-Executive Director

Matthew Moore, Chief Financial Officer and Chief Operating Officer

Michael Mckenzie Gray, Independent Non-Executive Director

David James Ker Turnbull, Independent Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

	Pre Admission		Post Admission
	Number of Existing Shares	Percentage of Existing Share Capital	Number of Ordinary Shares	Percentage of Enlarged Share Capital
Jonathan Mark Gordon Clubb	3,034,902	37.77%	3,353,083	20.25%
Schroder Investment Management Limited	nil	nil	1,653,409	9.98%
Hargreave Hale Limited	nil	nil	1,363,636	8.23%
Lance Trevellyan	839,844	10.45%	839,844	5.07%
Metropolitan Guarantee Limited	763,502	9.50%	763,502	4.61%
Novum Securities Limited	nil	nil	568,181	3.43%
Prima Investment Limited	nil	nil	568,181	3.43%
Quantum Field Dynamics Limited	534,476	6.65%	534,476	3.23%
Sally Mears	381,792	4.75%	495,428	2.99%
John Dixon	381,792	4.75%	381,792	2.31%
Go West Holdings Limited	381,300	4.74%	404,027	2.44%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 30 September

(ii) 30 June 2020

(iii) Final results to 30 September 2020, by 30 March 2021

Interim results to 30 March 2021, by 30 June 2021

Final results to 30 September 2021, by 30 March 2022

EXPECTED ADMISSION DATE:

8 March 2021

NAME AND ADDRESS OF NOMINATED ADVISER:

Canaccord Genuity Limited

88 Wood Street

London

EC2V 7QR

NAME AND ADDRESS OF BROKER:

Canaccord Genuity Limited

88 Wood Street

London

EC2V 7QR

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Electronic copies of the Admission Document will be available from the Company's website, www.teamassetmanagement.com, from Admission. The Admission Document will contain full details about the applicant and the admission of its securities.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Company intends to adopt the Quoted Companies Alliance, Corporate Governance Code, published by the UK Quoted Companies Alliance (the "QCA Guidelines") from Admission.

DATE OF NOTIFICATION:

3 March 2021

NEW/ UPDATE:

Update

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AIMBUGDXCGGDGBX

RNS metadata

Title: Sch 1 update - Team plc
Time: 15:30:06
Date: 3 Mar 2021
Category: Capital structure
ID: 0759R