Business
Disclosure under Rule 2.10(c) of the Takeover Code
Team Plc has announced a change to an irrevocable undertaking concerning its recommended all-share acquisition of W.H. Ireland Group plc. TFG Asset Management, which had irrevocably committed to vote in favour of the acquisition for 81,109,418 ordinary shares representing 34.27% of WH Ireland's issued share capital, has disposed of 2,000,000 shares and entered into Contracts for Difference for the same amount. This reduces TFG's direct shareholding in WH Ireland to 79,109,418 shares, now representing approximately 33.52% of the issued share capital. Disclaimer*
About this update from Team Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATION OF SUCH JURISDICTION\n \nFOR IMMEDIATE RELEASE\n \n30 December 2025\n \nTeam Plc.\n(\"Team\" or the \"Company\")\n \nRecommended Acquisition of W.H. Ireland Group plc (\"WH Ireland\")\n \nDisclosure under Rule 2.10(c) of the Takeover Code\n \nChange to an Irrevocable Undertaking\n \nOn 10 December 2025, the boards of Team and WH Ireland announced the publication of the Scheme Document relating to the all-share acquisition of WH Ireland by Team.\n \nAs set out in section 7.2 of Part VI of the Scheme Document, TFG Asset Management (\"TFG\") entered into an irrevocable undertaking to vote in favour of the Scheme at the Court Meeting and the WH Ireland Resolution at the General Meeting in respect of a total of 81,109,418 ordinary shares in WH Ireland, representing approximately 34.27 per cent. of the issued share capital of WH Ireland as at the Latest Practicable Date.\n \nTFG has informed Team that on 24 December 2025 it disposed of 2,000,000 ordinary shares in WH Ireland and entered Contracts for Difference (\"CFDs\") in respect of the same number of underlying shares. TFG has informed Team that the disposed shares formed part of the shares subject to the TFG Irrevocable Undertaking.\n \nAs a result, TFG's shareholding in WH Ireland has been reduced to 79,109,418 ordinary shares, representing approximately 33.52 per cent. of the issued share capital of WH Ireland.\n \nUnless otherwise defined, capitalised terms used in this announcement shall have the meanings given to them in the Scheme Document.\n \nEnquiries:\n\n\n\n\nTeam plc Mark Clubb\n\n\n+ 44 (0) 1534 877210\n\n\n\n\nH&P Advisory Limited (financial adviser to Team) Neil Passmore / Vladimir Volodko\n\n\n+ 44 (0) 20 7907 8500\n\n\n\n\nStrand Hanson (nominated adviser to Team) Richard Johnson / James Spinney / David Asquith\n\n\n+ 44 (0) 20 7409 3494\n\n\n\n\nNovella Communications (financial PR to Team) Tim Robertson / Safia Colebrook\n\n\n+44 (0) 20 3151 7008\[email protected]\n\n\n\n\nW.H. Ireland Group plc Phillip Wale (Chief Executive Officer)\nSimon Jackson (Chief Financial Officer)\n\n\n+ 44 (0) 20 7220 1666\n\n\n\n\nS...