AIM-listed TEAM plc, the wealth, asset management and complementary financial services group, said in statement on 28 September that it had raised £4250,000 "via the issue of unsecured loan notes to certain existing shareholders of the Company".
Its executive directors, Mark Clubb, chairman, and Matthew Moore, chief financial officer and chief operating officer, subscribed for £150,000 and £25,000 respectively.
"The proceeds of the Loan Notes will be used for additional working capital to support the integration of Globaleye Wealth Management Group which was acquired by the Company on 1 June 2023", the statement said.
International Investment reported on 1 June that Globaleye founder Tim Searle was to stay on as its chairman, and his son Rupert as CEO following the acquisition by the Jersey-headquartered wealth firm consolidator.
Searle, alongside "Patrick Liotard-Vogt of Globaleye" also become substantial shareholders of TEAM.
