Team17 Regulatory News (TM17)

NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

23 May 2018 

Team17 Group plc

("Team17", the "Group" or the "Company")

Admission to trading on AIM and First Day of Dealings

Team17, a global games label, creative partner and developer of independent ("indie"), premium video games, is pleased to announce the Admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange. Dealings will commence at 8.00am today, Wednesday 23 May 2018, under the ticker "TM17".

Team17 is a leading video games label and creative partner for indie developers. The Group supports both owned first party IP and third party IP - through partnering with indie developers globally - in the development and publishing of games across multiple platforms typically for a fixed revenue share. The Group focuses on premium, rather than free to play games, and its portfolio comprises over 90 games, including the iconic and well-established Worms franchise, as well as Overcooked and The Escapists.

The fundraising, which was multiple times oversubscribed, raised approximately £107.5 million, before expenses, through the issue of 27,325,482 new Ordinary Shares and the sale of 37,849,200 existing Ordinary Shares by existing shareholders at 165 pence per share (the "Issue Price"). Berenberg is acting as Sole Global Coordinator and Broker and GCA Altium as Nominated Adviser to the Company.

Admission details:

· The Company's market capitalisation on Admission, based on the Issue Price, is approximately £217 million.

· The Directors believe that the IPO will enable the Company to continue to invest in its future expansion, retain its independence, enhance its profile and provide the ability to incentivise current and future employees.

· On Admission, the Company will have 131,288,276 Ordinary Shares in issue.

· Team17's TIDM Code is TM17 and its ISIN number is GB00BYVX2X20.

Debbie Bestwick MBE, Chief Executive Officer of Team17, commented:

"We are delighted to have received such strong support from investors. Our listing on AIM represents a major endorsement of both our business and our people and we believe that our quoted status provides an ideal platform from which to accelerate our growth ambitions.

"We have established a truly exceptional team and our vast expertise within the gaming sector has enabled us to create a market-leading offering. We are excited by the benefits of being a quoted company and we look forward to further developing our business over the coming years."

The Admission Document can be found on Team17's website: www.team17group.com 

Enquiries:

This announcement does not constitute, or form part of, any offer or invitation to sell, allot or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as an inducement to enter into, any contract or commitment therefor.

GCA Altium, which is authorised and regulated by the Financial Conduct Authority, and Berenberg, which is authorised by the German Federal Financial Supervisory Authority and subject to limited regulation in the United Kingdom by the Financial Conduct Authority, are acting only for the Company in connection with the Placing and Admission and are not acting for or advising any other person, or treating any other person as their respective client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of GCA Altium or Berenberg or advice to any other person in relation to the matters contained herein. Such persons should seek their own independent legal, investment and tax advice as they see fit. GCA Altium's responsibilities as the Company's nominated adviser under the AIM Rules for Nominated Advisers and AIM Rules for Companies are owed solely to the London Stock Exchange and not to the Company, to any of its directors or any other person. Neither GCA Altium nor Berenberg have authorised or approved the contents of, or any part of, this announcement and no representation or warranty, express or implied, is made by GCA Altium and Berenberg or their affiliates as to any of its contents. 

In the United Kingdom, this announcement is addressed to and directed only at qualified investors (within the meaning of Article 2(1)(e) of Directive 2003/71/EC, the "Prospectus Directive") who are (i) persons having professional experience in matters relating to investments, i.e., investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO"); (ii) high net-worth companies, unincorporated associations and other bodies within the meaning of Article 49, (2) (a) to (d) of the FPO; and (iii) persons to whom it is otherwise lawful to communicate it under the FPO. It is not intended that this announcement be distributed or passed on, directly or indirectly, to any other class of person and in any event, and under no circumstances should persons of any other description rely on or act upon the contents of this announcement.

Neither this announcement nor any copy of it may be (i) taken or transmitted into or distributed, directly or indirectly, in the United States (within the meaning of regulations made under the US Securities Act of 1933, as amended), (ii) taken or transmitted into, distributed, published, reproduced or otherwise made available or disclosed in Canada, Australia, New Zealand or the Republic of South Africa or to any resident thereof, except in compliance with applicable securities laws, or (iii) taken or transmitted into or distributed in Japan or to any resident thereof for the purpose of solicitation or subscription or offer for sale of any securities or in the context where the distribution thereof may be construed as such a solicitation or offer. Any failure to comply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

The Shares have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.