Tern PLC Device Authority convertible loan notes (1704U)

TIDMTERN

RNS Number : 1704U

Tern PLC

01 December 2021

1 December 2021

Tern Plc

("Tern" or the "Company")

Device Authority convertible loan note maturity date extension

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), announces that the maturity date for all convertible loan notes provided to Device Authority Limited ("Device Authority") by Tern, Alsop Louie Partners and the George Samenuk Family Trust et al., has been extended to 31 March 2022. All existing repayment and conversion rights, automatic and at the holder's option, have also been extended to 31 March 2022. All other terms of these loan notes remain unchanged and as previously announced. The outstanding convertible loan balance payable by Device Authority to Tern currently stands at US$4.3 million, excluding US$0.6 million of interest accrued to date.

Enquiries

 
 Tern Plc                                      via IFC Advisory 
  Al Sisto (CEO) 
  Sarah Payne (CFO) 
 
   Allenby Capital Limited                       Tel: [phone] 
   (Nominated Adviser and Broker) 
   David Worlidge / Alex Brearley (Corporate 
   Finance) 
   Matt Butlin / Kelly Gardiner (Sales 
   and Corporate Broking) 
 
   IFC Advisory                                  Tel: [phone] 
   (Financial PR and IR)                         [e-mail] 
   Tim Metcalfe 
   Graham Herring 
   Florence Chandler 
 

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December 01, 2021 02:00 ET (07:00 GMT)