# TEAM plc raises £4250,000 via the issue of loan notes

- Link: https://www.directorstalkinterviews.com/team-plc-raises-4250000-via-the-issue-of-loan-notes/4121128434
- Published: 2023-09-28T07:15:32+01:00
- Author: Amilia Stone

**[TEAM plc](https://www.directorstalkinterviews.com/company/team-plc/team.l)** (
[LON:TEAM](https://www.directorstalkinterviews.com/company/team-plc/team.l)), the
wealth, asset management and complementary financial services group, is pleased 
to announce that it has raised £4250,000 via the issue of unsecured loan notes to
certain existing shareholders of the Company.

The Company’s executive directors, Mark Clubb, Chairman, and Matthew Moore, Chief
Financial Officer and Chief Operating Officer, are  subscribing for £150,000 and
£25,000 respectively.

The proceeds of the Loan Notes will be used for additional working capital to support
the integration of Globaleye Wealth Management Group which was acquired by the Company
on 1 June 2023.

**Terms of the Loan Notes**

The Loan Notes are repayable on 31 December 2024 and interest will roll up and be
repaid on maturity. The interest payable on the Loan Notes is 12%.

TEAM can repay the Loan Notes prior to the Repayment Date, (at par plus accrued 
interest) at any time without penalty. The Loan Noteholders cannot request early
repayment. The Loan Notes do become repayable, on demand, if the Company suffers
an event of default.

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