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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tern Plc | TERN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| -0.20 | -7.14% | 2.60 | 12:56:29 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.85 | 2.60 | 2.85 | 2.60 | 2.80 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 17/4/2024 11:34 by stentorian Tern are a 5.9% Limited Partner in Sure Valley Ventures Enterprise Capital Fund LPThis has three investments so far: RETINIZE JAID CAPTUR No mention in the Tern Portfolio update. I normally shadow Sure Ventures plc's web site as they are a 5.9% Limited Partner too. I posted last September 2023 (below)- I was expecting their Interim Accounts - strangest thing - Sure Ventures plc have not released any RNS' since my post. Not even an RNS announcing their Interim Accounts which were released at Companies House on 24 January 2024! Naughty... From the Interim Accounts there is a comment at page 9, para 4: It seems that £445,500.00 has been drawn down against their commitment. Tern must have drawn down the same amount as their commitments are identical. "stentorian - 04 Sep 2023 - 12:50:27 - 338838 of 348643 TERN, encrypting the cloud and Internet of Things. - TERN Sure Valley Ventures Enterprise Capital Fund LP Tern PLC are a 5.9% Limited Partner in the above. So are Pires Investments PLC and Sure Ventures plc with 5.9% each. On 23 July 2023, Sure Ventures plc issued their annual report it includes a report on the fund - which they call "FUND II". They provide a lot more information and colour than Tern plc do. "PORTFOLIO UPDATE – FUND II In March 2022 the Company announced its commitment of £5m to the Sure Valley Ventures Enterprise Capital Fund. This is a £85m first close launch of a total £95m UK software technology fund, investing in AR, VR and the Metaverse, including AI, IoT and Cybersecurity in investee companies throughout the UK (Fund II). The British Business Bank is the £50m cornerstone investor through its Enterprise Capital Funds programme and it is envisaged that investment in up to 25 software companies will be made during the investment period. As at the year end, the first portfolio Fund II investments had been made in Retinize, a Belfast-based creative tech company developing an Animotive software, harnessing VR technology to transform the 3D animation production process. An investment in Jaid was also made which is an innovative technology company providing AI-powered human communications solutions. As at the year end 5% of total commitments had been drawn and the pipeline for new investments remains extremely healthy. Further information on the investment portfolio is provided in the report of the Investment Manager which follows this statement... THE INVESTMENT ENVIRONMENT ... The initial investments identified for Fund II, and the varied deal pipeline that has been identified is also particularly pleasing. ... OUTLOOK Fund II is at the early stage of the investment cycle and the investment team is encouraged not only with the quality of its first investments, but with the deal pipeline that has developed. ... INVESTMENT MANAGER REPORT ... SURE VALLEY VENTURES ENTERPRISE CAPITAL LP Sure Valley Ventures Enterprise Capital Fund LP is a close-ended UK based GP/LP Fund which completed its first close on 1 March 2022. The total commitments for this first close were £85m. The British Business Bank are the cornerstone investor of this Fund, committing £50m of the initial £85m, with Sure Ventures plc committing a total of £5m. Fund II has a similar investment strategy to the first Fund, being a seed capital investor in high growth software companies that are focused on bringing a disruptive innovation to market. It plans to invest into 25 software companies from across the UK through its new fund. As well as being based in London, Dublin, and Cambridge, the Sure Valley team has recently opened an office in Manchester to help access deals in the significant and exciting innovation clusters that have developed around creative technologies in the North of England and in the Metaverse and AI opportunities in cities such as Manchester, Leeds, Sheffield and Newcastle. As at 31 March 2023, the Fund had drawn down a total of £4.25m and has made its first two investments into a Belfast based company called Retinize, for an amount of £1m and a London based company called Jaid t/a Opsmatix Limited for £1m with the option to invest a further £350k. The total invested capital to date for Sure Ventures plc was £250,000. " |
Posted at 02/4/2024 09:53 by tullynessle At Page 12 of the PER Report on TERN PLC published this morning.Progressive Equity Research / TERN PLC / April 2, 2024 Extract (located at P12) / TERN PLC "Conclusion We remain optimistic about the outlook for Tern. Efforts to date have propelled the four key portfolio companies to become technology leaders, albeit with relatively limited funding. All four businesses are on a positive trajectory, with significant momentum. We see huge potential in the next phase of growth as portfolio companies work with investment partners to achieve additional recognition and scale. The strategic importance of expanding sales operations is key to success, especially when competing with companies often backed by significant investment capital. Although Tern will where possible participate in fundraises to avoid dilution, its early entry at seed and seed plus allows it to retain a more substantial share. Tern’s investment proportion has been relatively small in the most recent rounds, demonstrating that the capital requirements are reducing as the businesses become attractive to third-party investors. We recognise that Tern’s commitment extends beyond financial support as it negotiates the best deals for shareholders during engagements with new investors, with the end goal to facilitate successful exits for all shareholders in a timely and prudent manner." |
Posted at 29/3/2024 20:29 by steveberyl Sisto as a CEO is of course, INEPT. 3years ago this clown made a statement that caused a buying spree that sent Tern to 30p many USA Investors were sucked in and the Sisto destroyed the Price and left USA Investors, enraged, never to return.10/11 will repair that damage, primarily because they have the EAR of many Wealthy USA Clients and are well known and respected by all Cyber security companies and Msft aws apple et al. Much more new Money will start to appear, much of it USA Courtesy of 10/11 involvement in Tern. Sisto influence is GONE. 10/11 have not just appeared, they will have been in the background for some 2 years, maybe more, 10/11 have seen an opportunity and grabbed it, our Finance expert was shown the door because of 10/11, i would bet good money on that and it broke sisto heart. Hail 10/11 who will enrich us all. |
Posted at 21/3/2024 17:51 by tonyslyfox ?BY ANNE-MARIJE ROOKPUBLISHED 21 HOURS AGOA cycling investor and former CEO of Outdoor Capital Partners a fund set to invest in a group of cycling companies received a 71-month prison sentence for securities fraud, on Tuesday.Samuel J. Mancini fraudulently raised nearly $11 million from investors to acquire top Italian cycling brands, including Gruppo Srl the parent of Cinelli and Colum |
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. |
Posted at 12/3/2024 10:43 by tullynessle There has been some talk on the BB of "Asset Stripping".Surely this is not applicable to TERN and not a viable strategy for any entity either invited or predatory, for the following reasons: * Asset Stripping was a process of the 1970s & 1980s and is somewhat discredited * Asset Stripping conflicts with the Business support strategies of HM Government * Private Equity and Venture Capital has moved on, primarily to a collaborative, support and grow together strategy. * I suspect that Tern Co-Investors would find any Asset Stripping action unacceptable * Business and PE / VC Sector & Lobby Bodies would not be impressed by such a backward step * Take as an example Tern: - 409,676,311 shares issued - 12,520,331 shares (3.2%) not in public hands - 0 Institutions with reportable holdings - 397,155,980 shares owned by individuals or institutions holding less than 3% I don't believe that any *best or worst" example of an Asset Stripper needs to decimate the most supportive of SME investors! All IMO Investopedia / Asset Stripping Asset Stripping: Meaning, Criticism, Example By JAMES CHEN Updated June 29, 2021 Reviewed by DAVID KINDNESS What Is Asset Stripping? Asset stripping is the process of buying an undervalued company with the intent of selling off its assets to generate a profit for shareholders. The individual assets of the company, such as its equipment, real estate, brands, or intellectual property, may be more valuable than the company as a whole due to such factors as poor management or poor economic conditions. Continued. Extract: KEY TAKEAWAYS * Asset stripping is when a company or investor buys a company with the goal of selling off its assets to make a profit. * Asset stripping often yields a dividend payment for shareholders while simultaneously resulting in a less-viable company. * Recapitalization refers to the process where asset-stripped companies take on new debt often through the use of leveraged loans. |
Posted at 08/3/2024 07:03 by tullynessle Excellent comment about the Global Sector in which Device Authority operates - "The global cyber security market segment is continuing to experience double digit growth"Extract: RNS Number : 2478C /Tern PLC / 07 February 2024 / Device Authority Fund Raise Quote "Commenting Ian Ritchie, Chairman of Tern, said: "We are pleased with Device Authority's ability to attract high calibre US investors as it continues to secure new logos. Device Authority's progress will be further accelerated with this significant investment from another US investor and the additional funding will allow Device Authority the flexibility to be more opportunistic in the marketplace. "We believe the additional capital and resources from Mercato Capital will enable a broader expansion of Device Authority's go-to-market programs in the US that we believe will ultimately have an effect on the multiples for exit valuations. The global cyber security market segment is continuing to experience double digit growth and establishing a substantial presence in the US should result in a greater return for Tern's shareholders. "Mercato Partners has a history of providing operational support to develop technology businesses to the stage when a valuable exit can be achieved. We look forward to working with the Mercato team and the other investors in the syndicate to accelerate the growth of the business to maximise the investment value for Tern shareholders. I look forward to making further announcements in due course."" |
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 12/2/2024 09:42 by tullynessle Positive commentary on future expectations for the market / TERN Website ( News & Views.)Of significant interest is the comment at the section entitled "Reasons to be positive". Paragraph 6 at that section includes - "The UK AI market alone is set to grow from £16.9 billion in 2023 to over £800 billion by 2035." For proper context it is recommended that the article be read in its entirety. TERN PLC Jan 30, 2024 market watch Why tech companies are struggling and how things will improve At the end of 2022, a great correction took place in the tech market. The heightened profits and demand of 2020–2021 came to an end and swathes of employees at the largest firms were laid off. The pandemic-era tech bubble had popped, and big tech firms saw half and more of their values abruptly wiped. In 2023, a sluggish economy, fueled by rising interest rates, inflation, and high energy prices, has left total investment in UK tech down 57%. Here, we explore the causes and the opportunities the current climate can offer IoT investors. Behind the struggle 2022 saw more than its fair share of financial and economic shocks. The NASDAQ dropped in value across four consecutive quarters and tech stocks fell harder than those of other markets. All in, it was the worst year for tech since the recession of 2008. What’s behind the struggles? It’s complicated. The high transport and energy costs driven by the war between Russia and Ukraine fed wider cost increases for UK businesses. To make ends meet, many spent less on advertising, hitting the big tech brands that rely heavily on ad revenue to turn a profit. Having lost half to two-thirds of their value overnight, many like Alphabet and Meta, cut back by axing thousands of jobs. Smaller firms didn’t fare better, with recently IPOed businesses losing up to 80% of their value. Factor in the end of the cheap money tech startups relied on, and you have a challenging landscape for businesses and those who want to invest in them. Given the headlines, you’d be forgiven for giving tech investments a miss. But since September last year, interest rates have held steady, layoffs have largely stopped, and many see reasons to be hopeful. Reasons to be positive Profits may be down, but the outlook is trending up. Short-term losses mask longer-term upturns in the market and certain tech sectors are bucking the trends. So, there are many reasons to be positive about the tech investment landscape ahead. Unlike in 2008, cash reserves are high, meaning mass-selloffs and busts are unlikely to occur. Discounting the exceptional gains driven by 2020-2021 lockdowns, both profit and investment volumes are up. According to the State of European Tech report, investment has increased 35–40 % compared to 2019 and 2020 levels, leading the industry into the third biggest year ever for total raised funds. In the wider landscape, the UK still ranks 3rd in the world for venture capital investments and 1st in Europe, raising double that of any other European country. Tech is also a vast landscape, with many sectors that are doing well. Areas with a high impact on IoT like cybersecurity, automation and robotics, and generative AI are defying wider trends. The UK AI market alone is set to grow from £16.9 billion in 2023 to over £800 billion by 2035. One in six UK organizations has already embraced AI technology and that figure is only set to increase. For IoT investors, this means there’s still money to be made. Investor outlook While some tech investors may be diverting their funds elsewhere, many see the value and opportunities the current climate offers in the UK. Some of the largest investment houses in the UK have seen success in AI-related stocks, even when other industry outlooks were poor. Some saw 1-year returns as high as 25% from leaning into AI-driven ventures. Those familiar with investing during economic downturns know that “buying the dip” can lead to positive medium-term returns. Investors can take advantage of lower stock prices to buy in on strong businesses that will continue to gain value as the economy recovers. For those newer to investing, there’s opportunity to buy good IoT stocks at comparatively low prices. For others, a chance to diversify their portfolio or get their foot into rapidly developing industries that are expected to overperform in the years ahead. |
Posted at 08/1/2024 19:02 by dave444 Seraphim Space Predictions 20241.Escalating geopolitical landscape intensifies global governments' to bolster their independent space capabilities:The worsening geopolitical environment has turbo-charged the desire of governments around the world to develop their own space capabilities. We predict that this push for ever greater space sovereignty be it in sending astronauts into Space, procuring dedicated satellite constellations, or fostering domestic launch capabilities will be one of the defining trends of 2024. The efforts of rival nations to establish a position of dominance in Space will also see geopolitical tensions extending into orbit, creating a new domain of 'astro politics' that will likely be played out on the front pages of newspapers throughout the year.2.Department of Defence sourcing from the private sector propel 'NewSpace' market to unprecedented heights:The steadfast commitment of the Department of Defence (DoD) to "buy what we can build and build what we must" we expect to exert a profound influence in 2024. We anticipate a surge in contract awards reflecting the strategic imperative to harness cutting-edge technologies and innovations from agile and pioneering NewSpace companies with the DoD playing a pivotal. These DoD contracts will stimulate a cascading effect throughout the broader SpaceTech market. The increased investment and recognition from a key governmental player will likely attract additional private and institutional investors, fostering an environment conducive to sustained growth and innovation within the sector.3.Further M&A consolidation, public markets to remain muted:Anticipating robust activity in mergers and acquisitions (M&A) throughout 2024, we foresee a continuation of strategic moves from incumbents, 'New Space' leaders, and private equity players. The satcoms sector is poised for further consolidation as operators proactively fortify their defences against the looming threats posed by the 'megaconstellations' of Starlink, OneWeb, and Amazon Kuiper. Expectations of consolidation extend into the earth observation sector, driven by dual forces a growing desire among government customers for multi-modal imaging/data fusion and the imperative for operators that went public through ill-fated SPAC-mergers to sustain and amplify revenue growth. The persistent price dislocation of publicly traded space stocks is likely to attract private equity buyers seeking potential price arbitrage opportunities, with an eye on privatizing some of these companies. While a certain degree of positive sentiment is anticipated to return to public markets, we do not envisage favourable conditions for space companies seeking to go public, barring the potential IPO of Starlink.4.Sentiment in the space sector tied milestones achieved by SpaceX:2024 is poised to be a pivotal year where SpaceX's performance will act as the barometer for the entire space investment landscape. The spotlight will shine particularly bright on the much-anticipated Starship launch, with its success acting as a potential catalyst to galvanize and elevate investor optimism to new heights. Adding another layer of intrigue to the financial landscape is the prospect of Starlink, SpaceX's satellite internet venture, going public. The mere contemplation of an initial public offering for Starlink has the potential to be nothing short of transformational for the space sector. Should this come to fruition, it could reshape the investment landscape, creating new opportunities and avenues for both institutional and retail investors. As such SpaceX will play a major role in shaping the trajectory of investor enthusiasm or caution in the ever-evolving space industry.5.The Moon continues to be an important stepping stone to gain insights and access to our solar system. 2024 will see the next giant leap into a commercial lunar market:We have witnessed four countries successfully achieving a moon landing to date, the United States, Russia, China and now India in 2023. It seems Japan will be hot on the heels in 2024. We predict a successful mission for Artemis II in the latter part of 2024 with NASA astronauts successfully circling the moon but not landing on the lunar South pole until 2025. Crucially, the Artemis programme is a government funded, commercially driven mission with NASA awarding contracts to established industry players like Lockheed Martin, and New Space giants like SpaceX, Blue Origin, and Firefly. They are also fostering the market much newer startups like Astrobotics, Intuitive Machines, and Zeno Power. We predict these companies will use the initial government support to launch commercially driven missions, opening up the moon for commercial activity.6 Regulatory Momentum to propel disclosure using Earth Observation dataThe surge in regulatory measures aimed at enhancing climate disclosure is poised to act as a catalyst, propelling forward the Earth observation market. In 2023 California become the first U.S. state to enact mandatory climate emissions disclosure rules. As governments and regulatory bodies intensify their focus on environmental transparency and sustainability reporting, businesses and organisations are compelled to adopt data from advanced Earth observation satellites. Consequently, this regulatory momentum is expected to ignite unprecedented growth in the market, fostering the development and deployment of cutting-edge technologies that facilitate more accurate, independent, globally comparable metrics for monitoring of our planet's vital signs. As the regulatory landscape evolves, so too will the Earth observation market, playing an important role in advancing our collective efforts towards a more sustainable and environmentally conscious future.7.Return to Earth capabilities will start to unlock next phase of Space sector's growth:Just as low cost launch has reshaped the Space sector over the last decade, we anticipate that the advent of low cost, frequent return to Earth capabilities will have a similar impact over the next decade. We predict that 2024 will see the successful maiden missions for a number of pioneering companies that are developing their own capabilities for returning material from Space. This in turn will start to unlock the colossal potential of point-to-point delivery and space-based manufacturing.8.Micr |
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