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TERN Tern Plc

1.75
0.00 (0.00%)
Last Updated: 07:45:46
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tern Plc LSE:TERN London Ordinary Share GB00BFPMV798 ORD 0.02P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 1.75 0.00 07:45:46
Bid Price Offer Price High Price Low Price Open Price
1.70 1.80 1.75 1.75 1.75
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 66k -10.45M -0.0269 -0.65 6.8M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.75 GBX

Tern (TERN) Latest News

Tern (TERN) Discussions and Chat

Tern Forums and Chat

Date Time Title Posts
19/3/202408:18TERN, encrypting the cloud and Internet of Things.347,341
18/3/202419:12Call an EGM?4,623
18/3/202418:33TERN, encrypting the cloud and Internet of Things.18,591
12/3/202419:42Tern plc 2,326
06/3/202420:38TERN, encrypting the cloud and Internet of Things60,433

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Tern (TERN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-03-18 16:20:221.74100,0001,735.00O
2024-03-18 14:40:241.7360,0001,039.80O
2024-03-18 14:36:101.7317,545304.05O
2024-03-18 12:18:581.7420,000347.20O
2024-03-18 12:12:461.75100,0001,750.00O

Tern (TERN) Top Chat Posts

Top Posts
Posted at 18/3/2024 08:20 by Tern Daily Update
Tern Plc is listed in the Finance Services sector of the London Stock Exchange with ticker TERN. The last closing price for Tern was 1.75p.
Tern currently has 388,571,510 shares in issue. The market capitalisation of Tern is £6,800,001.
Tern has a price to earnings ratio (PE ratio) of -0.65.
This morning TERN shares opened at -
Posted at 13/3/2024 15:17 by tullynessle
Re Post 347180 / Suggested TERN General Manager Position

The reason I suggested the GM position was to ensure more FOCUS on TERN itself and to its future development.

That is where the problems have been allowed to arise and that is where rectification action need to be implemented.


Is it not telling that no institutions have been courted on to the Shareholder List with a Holding in excess of 3%. - (See Link 2)

Either attention has been directed elsewhere or such an Investor has not been considered necessary or aligned with the Senior Leadership's vision.


Over the past seven years there must have been some or many opportunities for TERN to strengthen its Shareholder Base, noting that shares have been as high as around 53p (inter-day) at one time in June 2018 when the Market Cap was £119,506,827 with 225,484,580 shares issued. (RNS 18/06/2018), noting the number of Placings, and the attractive nature of Cybersecurity to boutique funds during the period. Perhaps these comments are unfair - whatever the situation, more sources of finance need to be developed.

All IMO



Notes and supporting information.

- 409,676,311 shares issued - See Link 1

- 12,520,331 shares (3.2%) not in public hands - See Link 2

- 0 Institutions with reportable holdings

- 397,155,980 shares owned by individuals or institutions holding less than 3%



Link 1:

Tern - Share issued in 2024 / RNS dates 31 Jan 2024


- 409,676,311 shares issued


Link 2



Extract:

"Shares in issue and shareholders

Tern PLC shares in issue – 409,676,311 ordinary shares of 0.02p and each share is entitled to one vote.

Tern PLC has not applied or agreed, to have any of its securities admitted to trading on any other exchange or trading platform than AIM.

The Company does not hold any Ordinary Shares in Treasury.

The number of shares not in public hands is 12,520,331 shares, 3.2%.

This information was updated on 30th January 2024."



Link 3



18/06/2018 - Issued Share Capital at that date


Link 4



TERN - Chart from mid 2015 to Present day.
Posted at 12/3/2024 21:21 by ricardox
Well, this is the full text from Tim Metcalfs response to my emails. I would not have posted it, but the lack of any action from bod or advisors. Also, I do not know what Tim means re Tern shareholder actions in relation to DA. But the last sentence is positive. The fact they don't release a reach rns to address shareholder concerns re current share price is, well..disappointing.Received 2nd MarchI note our previous correspondence has been widely shared.In addition to what I previously said, and in very summary terms, I make the following comments from my personal perspective. As you will be aware Tern is capital constrained given its very limited ability to raise additional funding.  DA required a certain amount of growth capital to achieve its potential and the majority of this has come from leading global IoT investors.  As Tern didn't have sufficient resources to provide this capital to DA and to demonstrate Tern's continued commitment over and above the conversion of loan notes and interest, I understand the incoming investor was keen that at least some of those associated with Tern personally provided a further demonstrable commitment. They did this through investing directly in DA and the same level of comfort would not have been provided to the investors if the modest funds invested had just come from Tern.  I understand the requirement for this personal commitment was driven both by the investor's concerns regarding the capital constraints of Tern and the negative comments the investor had read about Tern from some of its shareholders online, together with their actions in relation to DA.I personally think any focus on "dilution" is misguided.  Any growing early-stage company needs capital to achieve its potential.  Most "unicorns" have had hundreds of millions of investment.  It is the old adage – 1% of something extremely valuable is an awful lot better to own than 100% of something worth nothing.  The funding provided to DA is designed to maximise the ultimate value for Tern shareholders from DA and it has been structured with only this in mind.
Posted at 12/3/2024 20:34 by jimbob58
Despite the lack of news and response from the BoD, we should not forget that AS has 10,716,666 reasons for Tern to succeed. IR has 1,636,999 and BL 8,923,899.

These are significant shareholdings, worth a combined £212k for every 1p move in the Tern share price The fact that AS and IR now have direct shareholdings in DA may irritate given the entry point, but should not alarm us.

Keep the faith-Tern still has significant holdings in 4 cutting edge companies. Value will out.
Posted at 11/3/2024 19:10 by jimbob58
FundamentalVR CTO’s Thoughts on Apple Vision Pro.

Published March 6, 2024
Author: Vicky Smalley, CTO at FundamentalVR
When it was first announced, Apple Vision Pro was widely heralded as the saviour of the VR/XR dream. Would Apple do to the spatial computing market what it did to the mobile phone market in the late noughties? What is the reality now that the device is launched – what does it mean for the business world’s adoption and effective utilisation of spatial computing, and more specifically for our customers who are focused on surgical education and medical device sales and adoption?
As CTO of one the acknowledged leading companies in the realm of spatial computing, my team and I have had the extraordinary opportunity to work closely with Apple over the past few months. We’ve been harnessing the formidable capabilities of Apple Vision Pro for the advancement of medical education and these explorations have leveraged FundamentalVR’s groundbreaking intellectual property in spatial computing and haptics – a sector in which we are globally recognised – to develop immersive simulations and experiences.
One standout aspect of our collaborative venture is the utilization of the industry-leading capabilities of Apple Vision Pro. Professionals in medical simulation demand the highest fidelity in their tools and educational aids. With the robust performance available we have not only achieved the most lifelike visual simulations possible but have also integrated the sense of touch through grounded kinesthetic haptic feedback, a breakthrough for wireless spatial computing. This signals a leap forward in the realism and responsiveness that is achievable in medical simulations.
Truly effective spatial medical simulations transcend mere walkthroughs— they present learners with a complex, immersive environment where every choice matters. Learners can mistakenly select an incorrect instrument, interact with the incorrect anatomical part, and witness the repercussions of these decisions — all within a safe, virtual space. The crucial takeaway is the experiential learning gained from these errors, reinforcing the right practices to ensure better patient outcomes in real-world scenarios.
Our clients have come to expect such sophisticated and nuanced learning experiences, which not only demand superior processing power and visual fidelity but also present a more extensive engagement with the content. Historically, extended use of some VR headsets has resulted in user discomfort and has been hampered by inadequate battery life. However, Apple Vision Pro marks a significant advancement by addressing these issues head-on.
It provides sustained comfort over a prolonged operational duration and the visual fidelity in all modalities is so exceptional there is no need to remove it to carry out tasks in a real-world environment, allowing users to immerse themselves deeply in the educational experience without interruption.
One of the most compelling testimonials regarding the device arises from seasoned technophiles and newcomers alike, who are uniformly impressed by its exceptionally natural human interface. It delivers an effortlessly engaging user experience that is both inviting and intuitive – comparable to sinking into an expansive, comfortable couch as opposed to perching on a hard kitchen stool. This ease of use is a testament to Apple’s reputation for crafting interfaces with an uncanny knack for user-friendliness. In addition, there is an immediate familiarity inherent in the menu system, which echoes the ubiquitous interface of iPhone – a device that resides in countless pockets worldwide. This design choice induces a pleasant sense of déjà vu, making the user’s transition to Apple Vision Pro smooth and welcoming. Whatever the reason, the consensus is clear: engaging with Apple Vision Pro is a delightful discovery on the first attempt and remains so on every subsequent use, dissolving yet another barrier to widespread adoption.
Spatial computing is still in its infancy, yet Apple Vision Pro has already made a profound impression. Its potential to revolutionize the market is undeniable, and its impact is expected to be unique. Unlike the mature and saturated mobile market that iPhone entered in 2007, the burgeoning field of spatial computing is ripe for the kind of substantial innovation and dynamic devices this technology brings. It is precisely the kind of catalyst required to invigorate the space, propelling it to new heights. The introduction of Apple Vision Pro enriches the landscape, providing an expanded suite of choices for medical educators. There’s a saying that “a rising tide lifts all boats,” and in the context of spatial computing, the tide is truly swelling. This powerful and intuitive technology is not just an innovation in its own right; it is a beacon that heralds the broader ascent of the entire field.
My team and I are filled with anticipation as we prepare to delve deeper into the capabilities of Apple Vision Pro, aiming to expand the frontiers of simulation technology.
Further reading…

With this ongoing link between Apple and FVR, plus SpaceX link with Wyld, and 2 US institutional investors now on board at DA, how on earth has Tern share price drifted down to 1.7p? Disconnect is unbelievable.
Posted at 05/3/2024 11:15 by stentorian
What a difference a year /10 months makes...

"25 April 2023



Tern Plc

("Tern" or the "Company")



Konektio Fundraise



Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage disruptive Internet of Things (IoT) technology businesses, announces that its portfolio company, InVMA Limited, which trades as Konektio ("Konektio") has completed a £0.3m equity fundraise (the "Konektio Fundraise"). Tern has invested £0.1m in the Konektio Fundraise, with the remainder provided by Konektio's other institutional investors Mercia and Foresight. Tern has also converted £0.5m of convertible loan notes in Konektio ("Convertible Loan Notes").



Prior to the Konektio Fundraise, Tern had a holding of 36.8% in Konektio and as at 30 June 2022, the date of Tern's last published book valuation, this holding had an unaudited book valuation of £2.2m. Since 30 June 2022, Tern, alongside others, has provided funding to Konektio by subscribing for Convertible Loan Notes, which bore annual interest of 8%, and the entire principal amount and accrued interest have now converted, in line with the Convertible Loan Notes' terms, into new equity in Konektio at a discount of between 10% and 20% to the Konektio Fundraise price. Post the Konektio Fundraise, Tern's holding in Konektio has increased to 39.9% (before any dilution on exercise of any Konektio employee share options) and Tern's holding now has an unaudited book valuation, at the Konektio Fundraise price, of £1.0m.



Including its participation in the Konektio Fundraise and the Convertible Loan Notes, Tern has, to date, invested approximately £2.2m in Konektio. The Konektio Fundraise values Konektio in total at approximately £3m on a post-money basis.



Commenting Al Sisto, CEO of Tern, said:

"The macroeconomic backdrop remains difficult, with high inflation and high interest rates weighing heavily on the technology ecosystem. The landscape for technology company valuations has therefore deteriorated dramatically within the last year. Whilst I am encouraged by the support of our co-investors in working to keep AssetMinder at the forefront of its markets through this modest funding round, I am disappointed to have to report a 55% decline in the fair value of our investment in Konektio. In our view, this fails to reflect the strategic progress that has been made within the business and which we expect to continue over coming months.



"Our direct and hands-on support of Konektio is delivering results, and the business continues to make progress. We are encouraged by the market acceptance of the new release of AssetMinder and the increase in Annual Recurring Revenue (ARR) at the company. The investor group are keen on continuing this progress and look forward to the ability of the business to become self-supporting."
Posted at 29/2/2024 17:03 by ricardox
Below is Tim's reply to my email. Dear xxxx I don't see how you could consider a holding by a director or employee of Tern in a portfolio company a conflict of interest.  Any individual with such a holding would only have an additional incentive to ensure the value of the portfolio company is maximised and any additional holding by someone connected to Tern would only serve to provide Tern with additional leverage.  This is particularly important given the capital constraints on Tern. I do not understand your point that there is "a duty to declare an interest in a transaction or arrangement" as this may be relevant for a director of Tern in relation to a transaction with Tern, but cannot be relevant with any "transaction or arrangement" with an independent third party, which is what all the portfolio companies are. Both Mr Sisto and Mr Leith are very experienced venture capital professionals of long standing.  From what I know of the industry and their past careers I suspect they will have made orders of magnitude more from other involvements and are of independent means to make any investments.  It is also worth noting that the relatively modest salaries they receive from Tern are dwarfed by the potential returns they could make from their shareholdings in Tern.  I therefore believe their interests are entirely aligned with those of Tern shareholders, which includes me and my wife. Best regards Tim Tim MetcalfeIFC AdvisoryManaging Director Birchin Court20 Birchin LaneLondonEC3V 9DU T: +44 (0) 203 934 6632M: +44 (0)7721 383834E: tim.metcalfe@investor-focus.co.uk www.investor-focus.co.uk
Posted at 28/2/2024 15:48 by tullynessle
These are the TERM of the Device Authority fund raises on 1.) Feb 7, 2024; and
2. Dec 27, 2023; and Oct 28, 2022

The RNSs are copied in this post and comment will be made at the next Post. [apologies for the length - however it is fairly complicated and becomes more clear if the three fund raise RNSs are viewed together.


LINK 1 - RNS dated Feb 7, 2024



Tern Plc

("Tern" or the "Company")



Device Authority Fund Raise

Second Closing of Tranche One
Device Authority Fund Raise


Further to its announcements on 27 December 2023 and 28 December 2023, Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that Device Authority Limited ("Device Authority"), a company in which Tern had a 35.7% shareholding at 28 December 2023, has completed an additional Second Closing of Tranche One ("T1") (the "Second Closing") of the Series B type fundraising round (the "Fundraising"), securing a further US$2.0 million in new equity investment from Mercato Partners, a private equity firm in Cottonwood Heights, Utah, USA.



Highlights



· Device Authority and the investor group in the first closing from late December 2023 (T1) have agreed to a further US$2.0 million to be invested in addition to the planned US$7.3 million Fundraising announced on 27 December 2023. This brings the new planned total Fundraising to US$9.3 million. The US$2.0 million Second Closing has been secured and is in addition to the US$3.7 million from Ten Eleven Ventures and US$0.3 million from Alsop Louie Capital 3, L.P via conversion of short-term loans secured in the first closing of T1 on 28 December 2023.



· The total Device Authority Fundraising remains intended to provide Device Authority with sufficient funding to enable it to grow in line with its strategy beyond the end of 2024. This encompasses the expansion of its activities in the United States.



· From completion of Second Closing of T1 of the Device Authority Fundraising, Tern now holds 31.7% of Device Authority's equity (before any dilution on exercise of share options), valued at approximately US$7.5m (approximately £6.0m) at the valuation implied by the Device Authority Fundraising issue price.



· On acceptance of the National Security and Investment Act 2021 ("NSIA") approval by Ten Eleven Ventures and completion of Tranche Two ("T2") of the Device Authority Fundraising (as announced on 27 December 2023), Tern will hold 26.7% of Device Authority's equity (before any dilution on exercise of share options), which would be valued at approximately US$7.2 million (approximately £5.7 million) at the valuation implied by the Device Authority Fundraising issue price.



=========================

LINK 2 - RNS dated December 27, 2023



Device Authority Fund raise

Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that Device Authority Limited ("Device Authority"), a company in which Tern had a 53.8% shareholding at 21 November 2023, has agreed a Series B type fundraising round (the "Fundraising"), securing up to US$7.0 million in new equity investment from Ten Eleven Ventures, and US$0.3 million from Alsop Louie Capital 3, L.P via conversion of short-term loans. Of the Fundraising, Tranche One ("T1") of US$4.0 million is expected to be completed before the end of 2023. Tranche Two ("T2") of US$3.3 million, is contingent on approval pursuant to the National Security and Investment Act 2021 ("NASI") and acceptance of the approval by Ten Eleven Ventures.

Highlights

-- Device Authority has agreed US$4.0 million of a planned US$7.3 million total Fundraising, US$3.7 million from Ten Eleven Ventures and US$0.3 million from Alsop Louie Capital 3, L.P via conversion of short-term loans. The remaining US$3.3 million from Ten Eleven Ventures is contingent on approval pursuant to the NASI and acceptance of the approval by Ten Eleven Ventures

-- The total Device Authority Fundraising is intended to provide Device Authority with sufficient funding to enable to grow in line with its strategy beyond the end of 2024, including expanding its US activities

-- In conjunction with the Device Authority Fundraising, US$2.1 million of Device Authority convertible loan notes are to be converted into equity with reference to the Fundraising price, in line with the conversion terms of these loan notes

-- Tern is to convert all of its Device Authority convertible loan notes together with all accrued interest (representing a total of US$1.0 million), into equity, in line with the terms of these loan notes but will invest no new money in this Device Authority Fundraising

-- Device Authority will, from the proceeds of the Fundraising, repay in cash the US$175,000 of short-term loans provided by Tern in full, with accrued interest to date

-- From completion of T1 of the Device Authority Fundraising, including the conversion of Tern's Device Authority convertible loan notes to equity, Tern will hold 35.7% of Device Authority's equity (before any dilution on exercise of share options), valued at approximately US$7.7m (approximately GBP6.1m) at the valuation implied by the Device Authority Fundraising issue price

-- On acceptance of the NSAI approval by Ten Eleven Ventures and completion of T2 of the Device Authority Fundraising, Tern will hold 29.5% of Device Authority's equity (before any dilution on exercise of share options), which would be valued at approximately US$ 7.4 million (approximately GBP5.9 million) at the valuation implied by the Device Authority Fundraising issue price

Continued

===============================

Link 3 - RNS dated October 28, 2022

Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, announces that Device Authority Limited ("Device Authority"), of which Tern currently owns 53.8% of the equity, has completed a US$440,000 working capital funding in the form of unsecured convertible loan notes (the "Convertible Notes") from Tern and certain of its other existing shareholders, including Venafi and Alsop Louie Partners. Tern has subscribed for approximately US$303,401 of Convertible Notes, representing approximately 69% of the total funding.

The Convertible Notes and accrued interest (at a rate of 9% per annum) are repayable or convertible into Device Authority equity, at the holder's election, at the earlier of the maturity date of 30 June 2023 (the "Maturity Date"), and inter alia, on a change of control of Device Authority, or on Device Authority completing a qualifying fundraise, being a new equity financing of Device Authority which raises aggregate gross cash proceeds of at least US$5 million.

On a change of control of Device Authority prior to the Maturity Date, being a sale or disposal of the business as defined in Device Authority's Articles of Association, the Convertible Note holders will be entitled to a premium payment equal to 300% of the original principal amount of the Convertible Notes, or at the discretion of the Convertible Note holders the outstanding principal amount and accrued interest may be converted into the most senior class of share at a 30% discount to the price paid for the shares sold at the change of control. Additionally, subscribers to the Convertible Notes have received warrants to acquire additional Device Authority equity at a fixed price, exercisable on a change of control of Device Authority prior to the Maturity Date (the "Warrants").

Alternatively, should Device Authority complete a qualifying fundraise before the Maturity Date, the Convertible Notes are convertible into Device Authority equity at a 30% discount to the fundraising price. If a qualifying fundraise occurs the Warrants will expire and become non-exercisable. The Convertible Notes provide for customary events of default.

The valuation of Tern's holding in Device Authority, as stated in the Company's unaudited interim results for the six months to 30 June 2022, was GBP16.3 million. Based on Device Authority's latest statutory accounts for the year ended 31 December 2021, as at that date it had net assets of GBP3,824,398 and incurred a loss for the year of GBP2,185,382. Given the historic nature of these figures Tern does not consider this to be representative of the current business and trading performance of Device Authority.

Tern also currently has loans of approximately US$175,000 to Device Authority, which are short-term, non-convertible, unsecured loans.

Continued...
Posted at 27/2/2024 15:09 by tullynessle
Impediments

The TERN document below is dated Sept 2023 and is available at the TERN website.

* who are the "small number of external stakeholder groups"

* why is there a need to interact with them monthly

* what is the feedback from the nomad broker - was the following possibilities discussed:

- share trading anomalies ahead of placing announcements

- share trading anomalies directed at causing and / or maintaining an artificially low TERN share price

- signs (if any), of share price manipulation strategies

* were external stakeholders privy to confidential information

* a representative of Tern's PR Agency attended the meetings

(got to go out - will finish later)
(resumed)

- who are the key shareholder(s) providing monthly feedback via IFC Advisory






3: Long-term sustainability for success

The Company has a small number of external stakeholder groups and is therefore able to interact with them both orally and in writing on a regular basis, as a minimum this happens monthly.

Feedback is an inherent part of this interaction. Specifically, feedback from our nomad broker and PR agency have resulted in improved external communication via our website and our news releases.

Following feedback collated from key stakeholders as part of the Board evaluation process, additional opportunities to interact with these stakeholders was agreed by formalising their periodic attendance at Board meetings.

In addition monthly reports for the Board are now prepared by IFC Advisory summarising key shareholder feedback during the month




tern:empowering the exceptional:2023
Posted at 27/2/2024 11:38 by cambradjones
I see a few are now agreeing with my thoughts that the tern share price has been purposely destroyed to bring it down to a price where only a mbo can save it, despite the bod saying that is not their intention. Imo.No bod on aim can be as bad as this lot have been , absolutely useless is a understatement. More to it than that in my view.
Posted at 26/2/2024 15:07 by bcfc5
HT & CJ, I'm still here! In fact, I have been adding and will again at these incredibly low levels, to lower my average share price to what should be an achievable share price of 9p.I feel, like many lths, so let down by Tern BOD, for their brazen lack of respect for shareholders, deceit, false promises and poor management decisions (Pires to name but 1). I sincerely hope we are wrong in our perception of the BOD and that they do have some professional integrity and business acumen to deliver exits at a fair share price that our global leading investees warrant. I now accept that it will be pence not pounds, but surely 30-50p range is credible
Tern share price data is direct from the London Stock Exchange

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