Team PLC Loan Note (9091N)
28 September 2023 - 8:00AM
UK Regulatory
TIDMTEAM
RNS Number : 9091N
Team PLC
28 September 2023
28 September 2023
TEAM PLC
("TEAM", the "Company" or the "Group")
Issue of Loan Notes to raise GBP425,000
TEAM plc (AIM: TEAM), the wealth, asset management and
complementary financial services group, is pleased to announce that
it has raised GBP4250,000 via the issue of unsecured loan notes
(the "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 GBP150,000 and GBP25,000 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 (the "Repayment
Date") and interest will roll up and be repaid on maturity. The
interest payable on the Loan Notes is 12%.
The Company 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.
Enquiries to
TEAM plc
Mark Clubb, Executive Chair
Matthew Moore, CFO and COO +44 1534 877 210
Shore Capital (Nominated Adviser and Broker)
Tom Griffiths, Iain Sexton, Guy Wiehahn +44 20 7523 8000
Novella Communications (Financial Public
Relations)
Tim Robertson, Claire de Groot, Safia Colebrook +44 20 3151 7008
Hannam & Partners (Financial Adviser)
Giles Fitzpatrick, Ernest Bell, Richard Clarke +44 20 7907 8500
www.teamplc.co.uk
Background
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.
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END
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