TEAM plc (LON:TEAM), the wealth, asset management and complementary financial services group, has announced the issue of new ordinary shares of no par value as consideration for the acquisitions of the Globaleye Wealth Management Group and Concentric Group Limited as follows:
· following regulatory approval being received from the Jersey Financial Services Commission, the issue of 6,208,667 Ordinary Shares to Strategic Venture Partners Europe Limited as initial consideration pursuant to the acquisition of Globaleye which was announced on 1 June 2023; and
· the issue of 1,820,402 Ordinary Shares as deferred consideration pursuant to the acquisition of Concentric which was announced on 8 August 2022.
Application has been made to the London Stock Exchange for the 8,029,069 new Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the New Ordinary Shares at 8.00 a.m. on 1 November 2023.
Total voting rights
Following Admission, the Company’s issued share capital will comprise of 30,005,214 Ordinary Shares, none of which are held in treasury. Accordingly, the figure of 30,005,214 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.
TEAM plc is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM plc’s core skill of providing investment management services. Growth will be achieved via targeted and opportunistic acquisitions, through team and individual hires, through collaboration with suitable partners, and organic growth and expansion.
