TEAM plc (LON:TEAM), the wealth, asset management and complementary financial services group, has announced that the Company is issuing 2,800,000 new ordinary shares of no par value in the Company, pursuant to a direct subscription at a price of 10 pence per share, being the Company’s most recent fundraising price. The new Ordinary Shares, which will represent c. 4.5 per cent. of the Company’s issued shares as enlarged by the Subscription, will be issued under the Company’s existing share authorities.
The proceeds of the Subscription amounting to £0.28 million will be used to provide cash for working capital and general corporate purposes.
AIM Application
Application will be made to the London Stock Exchange for admission to trading on AIM for the 2,800,000 new Ordinary Shares detailed above, and Admission is expected to become effective and trading will commence in the new Ordinary Shares on or around 27 March 2025. The new Ordinary Shares will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the Company’s existing Ordinary Shares.
Total Voting Rights
Following Admission, TEAM Plc’s issued share capital will comprise of 61,540,022 Ordinary Shares, none of which are held in treasury. Accordingly, the figure of 61,540,022 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.
