Further to the announcement on 20 March 2026 confirming that the Court had sanctioned the Scheme, the boards of WH Ireland and TEAM plc (LON:TEAM) has announced that the Court Order (together with a copy of the Scheme and any documents required to be annexed thereto) has been delivered to the Registrar of Companies today and accordingly the Scheme has now become Effective in accordance with its terms and WH Ireland is now a wholly owned subsidiary of Team.
Full details of the Acquisition are set out in the Company’s scheme document which was published and made available to WH Ireland Shareholders on 10 December 2025. Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document.
As previously advised, trading in WH Ireland Shares on AIM was suspended with effect from 7.30 a.m. today. An application has been made to the London Stock Exchange in relation to the cancellation of the admission to trading of WH Ireland Shares on AIM, which is expected to take place at 7.00 a.m. on 25 March 2026. As a result of the Scheme having become effective, share certificates in respect of WH Ireland Shares will cease to be valid documents of title and entitlements to WH Ireland Shares held in uncertificated form in CREST are being cancelled.
Under the terms of the Scheme, a Scheme Shareholder on the register of members of WH Ireland at the Scheme Record Time, being 6.00 p.m. on 23 March 2026, will be entitled to receive 0.195 New Team Shares for each Scheme Share held.
Settlement
Settlement of the consideration to which any Scheme Shareholder is entitled will be effected by the crediting of CREST accounts (for WH Ireland Shareholders holding Scheme Shares in uncertificated form) or the issue of certificates in respect of the New Team Shares, as soon as practicable, but in any event by no later than 14 days after the Effective Date (being 7 April 2026).
Resignation of Directors
John Cusins has resigned as a non-executive director of WH Ireland and each of Phillip Wale and Simon Jackson have resigned as directors and ceased to hold any office with WH Ireland or any of its subsidiaries. All such resignations being effective from the effective date of the Scheme.
End of Offer Period
The Company is no longer in an “Offer Period” as defined in the Takeover Code and accordingly the dealing disclosure requirements of the Takeover Code no longer apply.
