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TEAM plc ( (GB:TEAM) ) has shared an announcement.
Team plc has disclosed a change to an irrevocable voting undertaking related to its recommended all-share acquisition of W.H. Ireland Group. TFG Asset Management, which had previously committed to vote 81,109,418 WH Ireland shares in favour of the scheme, has sold 2,000,000 of those shares and entered into contracts for difference over the same number of underlying shares, reducing its direct holding to 79,109,418 shares, or about 33.52% of WH Ireland’s issued share capital. The update, made under takeover rules, clarifies TFG’s current economic and voting interest in WH Ireland and provides transparency for investors as the court and shareholder meetings to approve the deal approach.
The most recent analyst rating on (GB:TEAM) stock is a Hold with a £22.50 price target. To see the full list of analyst forecasts on TEAM plc stock, see the GB:TEAM Stock Forecast page.
Spark’s Take on GB:TEAM Stock
According to Spark, TipRanks’ AI Analyst, GB:TEAM is a Neutral.
TEAM plc’s overall stock score is primarily impacted by its financial performance and technical analysis. The company’s strong revenue growth is overshadowed by profitability and cash flow challenges. Technical indicators suggest bearish momentum, and valuation metrics are unfavorable due to ongoing losses.
To see Spark’s full report on GB:TEAM stock, click here.
More about TEAM plc
Team plc is a UK-listed financial services group. Through its planned acquisition of W.H. Ireland Group, a brokerage and corporate advisory firm, Team is expanding its presence in wealth management and capital markets services for UK and international clients.
Average Trading Volume: 75,863
Technical Sentiment Signal: Hold
Current Market Cap: £17.14M
Learn more about TEAM stock on TipRanks’ Stock Analysis page.