TEAM plc (GB:TEAM) has released an update.
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TEAM plc has announced a £500,000 fundraising initiative through unsecured convertible loan notes, offered by Growth Financial Services, to bolster the company’s working capital. These five-year notes, with an interest that starts at 1% and may rise to a maximum of 7.5%, can be converted into TEAM plc’s ordinary shares at a set price within three years. The move aims to strengthen TEAM plc’s financial position without immediately diluting shareholder value.
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