Director Bonus Shares
TEAM PLC announced the issuance of 400,000 new ordinary shares to Executive Chair Mark Clubb as a tax-efficient settlement of unpaid bonus awards for the financial year ended 30 September 2024. Following this issuance, Mr. Clubb's interest will represent 4.36% of the enlarged issued share capital. Application has been made for these new shares to be admitted to trading on AIM, with trading expected to commence around 15 July 2026. The total issued share capital will then be 121,637,082 ordinary shares, none held in treasury, which shareholders should use as the denominator for notification calculations.
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TEAM plc (AIM: TEAM), the international wealth, asset management and financial services group, announces that 400,000 new ordinary shares are being issued to Mark Clubb, Executive Chair, pursuant to the unpaid balance of Executive Director bonus awards due in shares, for the financial year ended 30 September 2024 ("New Shares"). The issue of the Director Shares has been determined by the Remuneration Committee as tax-efficient for the Company. Following the issue of the Director Shares, Mr Clubb will be interested in 5,305,000 ordinary shares, representing 4.36% of the Company's issued ordinary share capital as enlarged by Admission, as defined below.
AIM Application
Application has been made to the London Stock Exchange for admission to trading on AIM for the New Shares ("Admission"), and Admission is expected to become effective and trading will commence in the New Shares on or around 15 July 2026. The New 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, the Company's issued share capital will comprise of 121,637,082 ordinary shares, none of which are held in treasury. Accordingly, the figure of 121,637,082 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.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Mark Clubb |
| 2. | Reason for the notification | |
| b) | Position / status | Executive Chairman |
| c) | Initial notification / amendment | Initial notification |
| a) | Name | TEAM plc |
| b) | LEI | 213800EP1CI5ANR7RP18 |
| b) | Nature of the transaction(s) | Issue of Ordinary Shares pursuant to Executive Director bonus awards |
| c) | Price(s) and volume(s) | Price(s) Volume(s) n/a 400,000 |
| d) | Aggregated information - Aggregated volume - Price | 400,000 shares n/a |
| e) | Date of the transaction | 9 July 2026 |
| f) | Place of the transaction | London Stock Exchange, AIM |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.