Team PLC Update on HBFS acquisition
October 25 2024 - 9:30AM
RNS Regulatory News
RNS Number : 7405J
Team PLC
25 October 2024
25 October 2024
("TEAM",
the "Company" or the "Group")
Update on
HBFS Acquisition
TEAM plc (AIM: TEAM), the wealth, asset management and
complementary financial services group, announces that the proposed
acquisition of Homebuyer Financial Services Limited ("HBFS"), a
Jersey based financial planning business, first announced in
December 2023, will no longer take place. The acquisition was
conditional on raising new capital in 2024 and while the Company
has raised capital, as announced on 3 April 2024 to support the
Group's working capital requirements, investor appetite to support
incremental investment has not been forthcoming, reflecting a
broader market malaise and levels of uncertainty. No payment has
been made and both parties have agreed to walk away with no further
financial involvement.
Mark Clubb, Chairman of
TEAM, "HBFS is a good business and would
have been a good fit with us. We are very disappointed not to have
been able to raise the additional funds needed to support this
acquisition."
Enquiries to
|
TEAM plc
Mark Clubb, Executive
Chair
Matthew Moore, CFO and
COO
|
+44 1534 877 210
|
|
Strand Hanson (Nominated
Adviser to TEAM)
Richard Johnson, James Spinney,
David Asquith
|
+44 207 409 3494
|
|
|
|
|
Oberon Capital (Broker to
TEAM)
Michael Seabrook, Adam Pollock,
Jessica Cave
|
+44 20 3179 0500
|
|
|
|
|
Novella Communications (Financial Public Relations)
Tim Robertson, Claire de Groot,
Safia Colebrook
|
+44 20 3151 7008
|
|
|
|
|
Hannam & Partners (Financial Adviser to TEAM)
Giles Fitzpatrick, Richard
Clarke
|
+44 20 7907 8500
|
|
|
|
www.teamplc.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact
rns@lseg.com or visit
www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our
Privacy
Policy.
END
UPDFLFFSIVLEFIS
Team (LSE:TEAM)
Historical Stock Chart
From Nov 2024 to Dec 2024
Team (LSE:TEAM)
Historical Stock Chart
From Dec 2023 to Dec 2024
