TEAM plc (LON: TEAM), the wealth, asset management and complementary financial services group, has confirmed, further to the announcements made on 03 December 2024 and 09 December 2024, the result of its Fundraise at the Issue Price of 10 pence per share. The Company announces that it has raised aggregate gross proceeds of £46,253.30 pursuant to the WRAP Retail Offer, alongside the previously announced Placing and Subscription. Accordingly, the Company will issue a total of 462,533 new Ordinary Shares at the Issue Price pursuant to the WRAP Retail Offer.
In total, the Placing and Subscription and the WRAP Retail Offer have raised gross proceeds of approximately £1.11 million for the Company.
Admission and Total Voting Rights
Application will be made for the aggregate 1,462,533 Conditional Fundraising Shares and the WRAP Retail Offer Shares to be admitted to trading on AIM. Subject to shareholder approval at the General Meeting to be held in January 2025, notice of which will be issued in due course, Admission is expected to become effective on or around 20 January 2025.
Upon Admission, the Company’s issued ordinary share capital will consist of 50,807,916 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 50,807,916. With effect from Admission, this figure may be used by Shareholders in the Company 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 Company under the FCA’s Disclosure Guidance and Transparency Rules.
The new Ordinary Shares to be issued pursuant to the Conditional Fundraising and 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 TEAM Plc’s existing Ordinary Shares.
