Business
Acquisition
Acquisition.
About this update from Team Plc
[{"type":"text","content":"\n\n1 June 2023\nTHIS ANNOUNCEMENT, ANY COPY OF IT, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION, RELEASE, TRANSMISSION OR FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL (OR TO ANY PERSONS IN ANY OF THOSE JURISDICTIONS). PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE, OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR SHARE IN THE CAPITAL OF THE COMPANY IN THE UNITED STATES, CANADA, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR JAPAN (OR TO ANY PERSONS IN ANY OF THOSE JURISDICTIONS). THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE LONDON STOCK EXCHANGE. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.\n \nTEAM PLC\n(\"TEAM\", the \"Company\" or the \"Group\")\nConditional Acquisition of Thornton Associates\nLeading Isle of Man Financial Planning Business\nTEAM plc (AIM: TEAM), the wealth, asset management and complementary financial services group, is pleased to announce that it has conditionally agreed to acquire the entire issued share capital of Thornton Associates Limited, trading as Thornton Chartered Financial Planners (\"Thornton\"), (the \"Acquisition\") for a consideration of up to £2.5 million. Thornton is an Isle of Man based financial planning business, the first chartered status firm on the island, providing holistic financial planning services with assets under advice (\"AUA\") of £121 million and approximately 180 client groups.\n \nHighlights\n \n· Conditional acquisition of Thornton for consideration of up to £2.5 million\n· Natural fit with TEAM's assets in Jersey and in line with strategy to expand into other Crown Dependencies\n· Potential for delivery of significant synergies and cross-selling opportunities\n· TEAM is also announcing separately today its unaudited interim results for the six months ended 31 March 2023 and the acquisition of Globaleye W...