Settlement of NEBA deferred consideration
TEAM plc has settled the final deferred consideration for its acquisition of Neba Financial Solutions by issuing 1,929,627 new ordinary shares at a reference price of 15 pence per share. Application has been made for these new shares to be admitted to trading on AIM, with trading expected to commence around July 28, 2026. Following this admission, the company's total issued share capital will be 123,566,709 ordinary shares, none of which are held in treasury. This issuance represents a significant personal investment by John Beverley, an executive director, underscoring confidence in the company's strategy and future growth opportunities.
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TEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, announces the settlement of final deferred consideration ("Final Consideration") in relation to the acquisition of Neba Financial Solutions Limited and Neba Financial Solutions Private Limited (together "Neba") in accordance with terms of the Neba acquisition agreements. The Neba businesses were acquired in December 2023 from John Beverley, subsequently appointed an executive director the Company.
The Final Consideration is being settled through the issue of 1,929,627 new ordinary Team shares ("New Shares") at a reference price of 15 pence per New Share.
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 at 8.00 a.m. on or around 28 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 123,566,709 ordinary shares, none of which are held in treasury. Accordingly, the figure of 123,566,709 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.
Mark Clubb, Executive Chairman of TEAM, said: "John's substantial personal investment is a powerful endorsement of TEAM, our strategy and our future. As both a Board member and Chief Executive Officer of TEAM International, he has demonstrated his confidence through his increased interest, alongside our shareholders. This level of personal commitment is greatly appreciated and reflects the belief our senior leadership has in the significant growth opportunities ahead."
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | John Beverley | ||||
| 2. | Reason for the notification | |||||
| b) | Position / status | Director | ||||
| c) | Initial notification / amendment | Initial notification | ||||
| a) | Name | TEAM plc | ||||
| b) | LEI | 213800EP1CI5ANR7RP18 | ||||
| b) | Nature of the transaction(s) | Settlement of vendor consideration | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 1,929,627 shares n/a | ||||
| e) | Date of the transaction | 22 July 2026 | ||||
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.