Certain Ordinary Shares of TEAM plc are subject to a Lock-Up Agreement Ending on 8-MAR-2023. These Ordinary Shares will be under lockup for 730 days starting from 8-MAR-2021 to 8-MAR-2023.

Details:
Certain Existing Shareholders (not including Mark Clubb) (together the “Covenantors”), holding, in aggregate, 25.5 per cent. of the Enlarged Share Capital, have undertaken to the Company and Canaccord (subject to certain limited exceptions including transfers to family members or to trustees for their benefit and disposals by way of acceptance of a recommended takeover offer of the entire issued share capital of the Company) not to dispose of the Ordinary Shares held by each of them or in which each of them has a beneficial interest (the “Restricted Shares”) following Admission or any other securities issued in exchange for or convertible into, or substantially similar to, Ordinary Shares (or any interest in them or in respect of them) at any time prior to the first anniversary of Admission (the “Lock-in Period”) without the prior written consent of Canaccord and the Company.

Furthermore, Existing Shareholders holding an aggregate 20.9 per cent. of the Enlarged Share Capital, have also undertaken to the Company and Canaccord not to dispose of the Restricted Shares for the period of 12 months following the expiry of the Lock-in Period otherwise than through Canaccord.

Mark Clubb has undertaken to the Company and Canaccord (subject to the same limited exceptions noted above) not to dispose of his Restricted Shares following Admission or any other securities issued in exchange for or convertible into, or substantially similar to, Ordinary Shares (or any interest in them or in respect of them) at any time prior to the second anniversary of Admission without the prior written consent of Canaccord and the Company.