Tern Share Discussion Threads

[jprich] 15/1/2020 11:52

182667

Missed out the bit where the largest shareholder took the opportunity to sell almost 2m shares during that time. And subsequently started buying back at a lower price.

[ff2345] 15/1/2020 11:49

I did, and got no reply. Typical.

They have to understand that you can not treat their shareholders like £$%&.

[duxy786] 15/1/2020 11:49

ff234515 Jan '20 - 11:34 - 182667


Looks like someone is PI$$ED and finally about to crack the lid open on the cloak and dagger. Well written letter, slightly confusing english at the end "Please will you take this matter upon with TERN".

suggest you get that over to Miss Payne before the authorities do. give em head start to run! LOL

[tburns] 15/1/2020 11:48

FF2345 - Excellently worded email there, it would be great if the regulator acted upon it

[vitec] 15/1/2020 11:47

Send your complaint to TERN and the PR company.

[andrbea] 15/1/2020 11:39

DA rubbing shoulder to shoulder with Microsoft (Oct/Nov 19) and nCipher (this month)

So good to see, also, how close nCipher and MS are (it could all become very interwoven IMO, in the future, if nCipher AND MS both adopt KS).

Sept 2019
region: Middle East
nCipher security man being interviewed:

The market is going to see us doing a bigger push on our sales end. We are working closely with Microsoft and our partners and customers can expect to see us growing the business together. Microsoft view our relationship as absolutely key within the Gulf region to grow their Azure consumption. The market potential is huge and we are going to tap into that as we enable government organisations and enterprises to move their sensitive data into a cloud format.

We also have plans to increase our reseller network. I believe it’s a real opportunity for Microsoft resellers to come to us because we have additional revenue streams, and allow them to underpin greater consumption of the Azure platform. So that’s a real reach out from our point of view that they should be talking to us more.

[ff2345] 15/1/2020 11:34

Sent to Regulatory Complaints at the LSE:

Dear Sirs

Re: TERN PLC

TERN plc is quoted on the London Stock Exchange.

TERN is a venture capital fund investing in the Internet of Things (IoT). TERN own 57% of a company called Device Authority (DA). Their investment in DA was valued at £12.3m in their last accounts, made up to 30th June 2019. This represented 78% of the value of their investments.

The following announcement relating to DA appeared on the website of US Capital Global (USCG) dated October 22nd (see printout attached), timed at 10:24 ET (UK time 15:24).

US Capital Global Advises on $10 Million Equity Financing for Cyber Security Company.

The share price of TERN immediately prior to this news release from USCG was 11.5p bid and 12.2p offer. However, the news was not released by TERN: it was uncovered by private investors, and communicated via various chat rooms. As a consequence, the share price of TERN rose in the following days to close at 13.5p bid and 14.0p offer on 29th October 2019.

On 30th October TERN announced a fund raise of £1.75m at a share price of 11.15p per share. At the close of business on the day the TERN fund raising was announced the share price was 11.0p bid and 12.0p offer, a fall of 14%.

I have contacted TERN on a number of occasions to try and get clarity with regard to the announcement from USCG. I was keen to ascertain whether USCG had recently raised $10m for DA as implied by their news release, and if so why TERN had not released a RNS. If USCG had NOT recently raised $10m for DA, then I was keen to get TERN to issue a statement clarifying the role and timings of USCG. To date I have not had a reply. I also contacted USCG and the PR agency for TERN, but no explanation was forthcoming. The USCG news item is still on their website.

I would like you to investigate this matter further for several reasons:
1. If the announcement from USCG was true, TERN should have released a RNS relating to this material transaction
2. If the announcement was not true (or related to previous work undertaken some time ago) then TERN should have issued a statement clarifying the situation, or requested that USCG either withdraw the news item or add clarity.
3. The timing of the USCG statement, just a few days prior to a capital raise, raises additional questions.

Please will you take this matter upon with TERN as a matter of urgency. I do not feel it is appropriate for a company quoted on the LSE to operate in this way.

The contact is:

Sarah Payne
Finance Director
TERN plc
Gridiron
One Pancras Square
London N1C 4AG

Kind regards

[vitec] 15/1/2020 11:28

Trouble is my man cave is not just in one room. I have managed to "contaminate" three rooms.

[monte1] 15/1/2020 11:20

Bloody great stuff vitec.

Ye can never have too many retro gadgets in yer man* cave imco.










*other genders are available

[vitec] 15/1/2020 11:13

monte, I must fit right in then as I have a large Thunderbirds fruit machine and a 1950's Mills one arm bandit.

[sweepie2] 15/1/2020 11:10

InVMA news section down, always expecting details of another contract from one of them
ps
Up and going again but another one is just around the corner from one of our amazing investments imo

[monte1] 15/1/2020 10:59

If it is a ‘warm, clubby feel’ you are after, Cl€m recommends a move to the PBB,

[jprich] 15/1/2020 10:56

See you can get a decent discussion here without BOTH the super rampers and derampers at it!

Thanks guys

[stellaperformance] 15/1/2020 10:55

Yes Vitec. Steady communication flow and steady changes to the share price been here for a while so no rush for me but agree the BOD do treat investor poorly and with contempt.

[vitec] 15/1/2020 10:54

Thanks m5. My ego has been boosted but I would rather see a boost in the share price

[m5] 15/1/2020 10:52

vitec, some excellent posts.

[duxy786] 15/1/2020 10:52

Finally, something we agree on. But what of his twin salary

[vitec] 15/1/2020 10:51

Stella, without reiterating myself I totally agree with your sentiment. I feel we are treated with contempt. I have used the phrase before "I am only here for the assets/investee companies etc" but if the management is poor or does not engage that will only hold you so long.

Anyone can get a 100% rise in the share price on any given day but it depends on how low you have fallen to achieve it. Many I suspect that post would like steady rises rather than the Chinese water torture we suffer and the stellar 100% rise in a day!!

[monte1] 15/1/2020 10:49

#182652

Indeed - for fruit machine money punts at most. Entertainment value only.

[bryall2] 15/1/2020 10:48

jprich, I have said on numerous occasions that Al Sisto should NOT be sitting on both Device Authority and Tern boards at the same time, it is very much in my view a conflict of interests. Al.

[stellaperformance] 15/1/2020 10:47

A few words from the BOD would assist Vitec. Either to re-ignite enthusiasm, or reward the patient many or suggest we invest elsewhere for a while.

It’s clear we all need the BOD to provide an update. There seems to enough info around to articulate in money terms what is going on.

I’m sure all would be forgiven if there was a significant RNS setting out a major deal / agreement but difficult to forget the words that were used last year with little to follow.

[vitec] 15/1/2020 10:46

Most companies on AIM are run as personal ffiefdoms. I worked for one such company where the CEO sold the company but retained a percentage of the shares. Every board meeting was dominated by what he wanted to do going forward. The fact that he had sold the company was lost on him. I am not saying TERN is run in this way but lack of information, transparemcy, broken promises are all part of the journey. If you only want the upside and none of the negative features then invest in footsie 100 companies where corporate governance is for more stringent. AIM is a casino. Nothing more and nothing less.

[bryall2] 15/1/2020 10:45

True value will only come about on an exit or partial exit of an investee company, however to try and buy in on the day of that news arising will be too late, so you either sit and wait it out or move on. I’m happy do do the former. Al.

[jprich] 15/1/2020 10:40

If not on a fudicary basis this false market that Al operates is morally questionable. There are genuine people who have invested hard earned money.

[vitec] 15/1/2020 10:35

Of course they do. But the market on any given day reflects all of the available information. The MM's are the bookies and we are the mug punters. They know exactly what stock they have, who is buying and who is selling. I have L2 but it does not give me the total insight as to what is going on.

The question has been posed "if this is such a screaming buy at these levels, then why is the volume so thin". The answer to that is easy, many of us think it is value but do not want to risk it because we have no idea in the future as to when the share price is going to move northwards. Couple that with the perception that most shares traded in TERN are by those that know TERN rather than new blood you have a lowly share price on low volumes traded most of the time.