Loan Note Extension
TEAM plc has announced that holders of its unsecured 12% loan notes approved an extension of the maturity date to December 31, 2026, and an increase in the principal amount to £1,500,000. Currently, £1.36 million in principal is issued, with the company's Chairman holding £150,000 of these notes. TEAM plc retains the option to repay the loan notes early without penalty, while noteholders cannot demand early repayment unless an event of default occurs.
Select text to share a quote on X · sign in to keep highlights & notes in your TEAM notes
TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, announces that, on 8 December 2025, the holders of the Company's unsecured 12% loan notes (the "Loan Notes"), issued by the Company pursuant to the loan note instrument dated 26 September 2023 (as amended) (the "Loan Note Instrument"), approved by written resolution to extend the maturity of the Loan Notes until 31 December 2026 and to increase the principal amount of the Loan Note Instrument to £1,500,000.
Loan Notes are currently issued for total principal of £1.36 million (excluding interest, which is rolled up and paid on maturity or repayment). The Company's Chairman, Mark Clubb, holds £150,000 of the issued Loan Notes principal, subscribed in September 2023.
The Company can repay the Loan Notes prior to the maturity date, at par plus accrued interest, at any time without penalty. The Loan Note holders cannot request early repayment. The Loan Notes do become repayable, on demand, if the Company suffers an event of default.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.