International legal practice Osborne Clarke has advised TEAM plc, the holding company of TEAM Asset Management, a Jersey based specialist, investment-led active fund manager currently providing discretionary and advisory portfolio management services to private clients and trusts on its successful AIM listing and placing. Following admission, TEAM will have a market capitalisation of £14.5 million.
The placing, which was over-subscribed, raised gross proceeds of over £7.5 million for the company and certain selling shareholders. Admission and trading in the company’s ordinary shares took place today (8 March 2021). TEAM intends to use the net proceeds to, amongst other things, fund the general working capital requirements of the its group and to finance acquisition opportunities that may arise from time to time.
Canaccord Genuity Limited acted as nominated adviser, sole broker and sole bookrunner and H&P Advisory Limited acted as financial adviser to the Company.
Mark Clubb, Executive Chairman of TEAM said:
“It has been a pleasure working with the team at Osborne Clarke. The advice has been first class and the delivery most timely. We look forward to engaging with Osborne Clarke in the future confidently knowing we will benefit from excellent service and guidance.”
The Osborne Clarke team that advised on the IPO was led by Partner Mark Wesker, who was assisted by Senior Associate Ed Nisbet and Associate Rebecca Ewing. Senior Associate Lara Flynn provided employment advice to TEAM. In advising TEAM, Osborne Clarke worked alongside Collas Crill LLP, TEAM's Jersey lawyers (led by Mike Williams and Fiona Wilson).