TEAM plc raises £136,300 in WRAP Retail Offer, plans Share Issuance

Team plc

TEAM plc (LON:TEAM), the wealth, asset management and complementary financial services group, has announced the result of the WRAP Retail Offer, which has now closed.

The Company is pleased to announce that it has raised gross proceeds of £136,300 at 20 pence per share. The Company confirms it will issue a total of 681,500 new Ordinary Shares at the Issue Price pursuant to the WRAP Retail Offer, subject to obtaining Shareholder approval as detailed below.

In total, the Placing, Subscription and the WRAP Retail Offer have raised aggregate gross proceeds of £1,246,300 for the Company, via the Placing and Subscription of 5,550,000 Placing and Subscription Shares and the 681,500 WRAP Retail Offer Shares.

Completion of the Wrap Retail Offer is conditional, inter alia, on TEAM obtaining the requisite approvals from Shareholders at the Company’s Annual General Meeting, to be held on 17 April 2024, and admission of the WRAP Retail Offer Shares to trading on AIM, which is expected to be effective at 08:00 a.m. on or around 19 April 2024. Admission of the Placing and Subscription Shares is expected to be effective on the same date.

The new Ordinary Shares to be issued pursuant to the WRAP Retail Offer will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the new Ordinary Shares to be issued pursuant to the Placing, the Subscription and the Company’s existing Ordinary Shares.

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

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