Tern PLC: Equity Fundraise (682797)

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 Tern PLC (TERN) 
Tern PLC: Equity Fundraise 
 
08-May-2018 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
8 May 2018 
 
             Tern Plc ("Tern" or the "Company") 
 
             Equity Fundraise 
 
 Tern Plc (AIM:TERN), the investment company specialising in the Internet of 
 Things ("IoT"), is pleased to announce that it has raised GBP1,750,000 before 
  expenses through an unconditional placing of 9,459,460 new ordinary shares 
  of 0.02p each at a price of 18.50 pence per ordinary share (the "Placing") 
          with a single institutional investor, utilising the existing share 
                           authorities granted at the 2018 AGM. 
 
The net proceeds of the Placing will be used primarily to provide additional 
   finance to develop the businesses of the existing portfolio companies and 
                           invest in new portfolio companies. 
 
  Al Sisto, CEO of Tern, commented on the Placing: "This Placing provides us 
 with capital to continue delivering on our strategy to add to our portfolio 
  of IoT businesses, and establish Tern as a leading IoT investment company. 
   As promised at our AGM and our shareholder call on 26 April 2018, we will 
       continue to provide regular updates on the progress being made by our 
                portfolio companies which is the key value driver for Tern." 
 
        Application will be made for the 9,459,460 new ordinary shares to be 
       admitted to AIM and it is expected that admission will take place and 
            trading in the new ordinary shares will commence on 14 May 2018. 
 
   In accordance with the Financial Conduct Authority's Disclosure, Guidance 
      and Transparency Rules, the Company confirms that on completion of the 
    Placing and following admission of the new ordinary shares to trading on 
   AIM, the enlarged issued share capital will comprise 221,600,796 Ordinary 
     Shares of 0.02p each. The Company does not hold any shares in Treasury. 
  Therefore the total number of voting rights in the Company is 221,600,796. 
          The above figure may be used by shareholders in the Company as the 
denominator for the calculations to determine if they are required to notify 
  their interest in, or a change to their interest in the Company, under the 
                           Disclosure Guidance and Transparency Rules. 
 
 This announcement contains inside information for the purposes of Article 7 
                           of EU Regulation 596/2014 
 
Enquiries 
 
Tern Plc                       via Redleaf 
 
Al Sisto/Sarah Payne 
 
                    WH Ireland Tel: [phone] 
 
      (NOMAD and joint broker) 
 
           Mike Coe/Ed Allsopp 
 
                Whitman Howard Tel: [phone] 
 
                (Joint broker) 
 
   Nick Lovering/Francis North 
 
        Redleaf Communications Tel: [phone] 
 
Elisabeth Cowell/ Fiona Norman 
 
ISIN:          GB00BFPMV798 
Category Code: MSCH 
TIDM:          TERN 
LEI Code:      2138005F87SODHL9CQ36 
Sequence No.:  5507 
EQS News ID:   682797 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

May 08, 2018 02:01 ET (06:01 GMT)