13 Apr 2023 15:40
13 April 2023
Team17 Group plc
("Team17" or the "Company")
Issue of Shares
The Company will issue 210,349 new ordinary shares of £0.01 each in the Company ("Ordinary Shares") related to share-based component of the earn out arising from the acquisition of The Label. The earn out relates to the FY22 performance period, with the value of shares to be issued equivalent to US$1.1m (£0.8m).
Application has been made to the London Stock Exchange for the 210,349 new Ordinary Shares issued as part of the consideration to be admitted to trading on AIM ("Admission"), and it is expected that Admission will take place at 8.00 a.m. on 19 April 2023. The shares are subject to a 12 month lock-in period.
The new Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu with the existing Ordinary Shares, including the right to receive all future dividends and distributions declared, made or paid by reference to a record date falling after their issue.
Following admission of the 210,349 new Ordinary Shares, the Group's issued share capital will comprise 145,803,620 Ordinary Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Group under the Financial Conduct Authority's Disclosure and Transparency Rules.
Enquiries
Team17 Group plc Debbie Bestwick MBE, Chief Executive Officer Mark Crawford, Chief Financial Officer
| via Vigo Consulting
|
Houlihan Lokey UK Limited (Nominated Adviser) Adrian Reed / Tim Richardson
| +44 (0)161 250 3577 |
Berenberg (Broker) Ben Wright / Toby Flaux / Marie Moy / Alix Mecklenburg-Solodkoff
| +44 (0)20 3207 7800 |
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Fiona Hetherington / Kate Kilgallen team17@vigoconsulting.com | +44 (0)20 7390 0233 |
About Team17
Team17 Group plc is a global provider of games entertainment to a broad audience. The Group now includes a games entertainment label and creative partner for indie developers, a leading developer of educational apps, targeting children under the age of eight and a leading working simulation games developer and publisher.
Visit www.team17.com for more info.
Team17 (TM17)