LONDON - TEAM plc, a wealth and asset management group, has announced a retail share offer to raise up to £150,000 through the issuance of new ordinary shares. The offer, made available via the Winterflood Retail Access Platform (WRAP), allows eligible existing UK shareholders to purchase up to 1,500,000 shares at 10 pence each.
This retail offer comes alongside a larger equity fundraising initiative aimed at securing approximately £1.07 million before expenses through a bookbuild process. The shares offered in the larger fundraising are also priced at 10 pence, representing a 13% discount from the closing price on December 2, 2024.
TEAM has expressed a commitment to its retail shareholder base, prompting the decision to enable their participation in the company's growth through this WRAP Retail Offer. This offer is independent of the equity fundraising, although its completion is contingent upon the success of the larger equity raise.
The retail offer is scheduled to close at 4:30 pm on December 9, 2024, with potential earlier closing times depending on financial intermediaries. Retail brokers interested in participating on behalf of their clients can reach out to the designated contact at Winterflood.
Investors are reminded that once accepted, applications for the WRAP Retail Offer Shares cannot be withdrawn. The new shares will rank equally with existing ordinary shares, including the entitlement to dividends and distributions declared post-issue.
The offer is conducted under UK financial regulations, exempting the need for a prospectus. However, TEAM plc underscores the inherent risks associated with investing in shares, advising potential investors to seek independent advice if necessary.
The proceeds from the share offerings are intended for use as outlined in a separate equity fundraising announcement, aligning with the company's strategic objectives.
This retail share offer is limited to the UK and is not extended to the US or other jurisdictions where it might breach local laws or regulations. The shares have not been registered under US securities laws and are not being offered in the United States.
It's important to note that the information presented is based on a press release statement and does not constitute an endorsement or investment recommendation. The value of investments can fluctuate, and past performance is not indicative of future results.
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