We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.20 | -7.14% | 2.60 | 2.50 | 2.70 | 2.85 | 2.60 | 2.85 | 2,518,633 | 12:56:29 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 66k | -10.45M | -0.0269 | -0.97 | 10.1M |
TIDMTERN
RNS Number : 5951A
Tern PLC
02 June 2021
2 June 2021
Tern Plc
("Tern" or the "Company")
Result of General Meeting
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), announces that at the Company's General Meeting ("GM") held earlier today all resolutions were voted on by a poll and were passed.
The total number of Ordinary Shares of the Company in issue, each with one voting right, is 330,338,101 and the votes cast in respect of the resolutions were as follows:
Resolution For Against Total Votes % of share votes withheld capital cast voting Total % Total % votes votes ----------- ----------- ------- ----------- ---------- ----------- Ordinary Resolution 1. To permit the Directors to issue up to 50 million new Ordinary Shares 69,995,911 77.75% 20,026,919 22.25% 90,022,910 66,946 27.25% ----------- ------- ----------- ------- ----------- ---------- ----------- Special Resolution 2. To permit the Directors to disapply pre-emption rights in any issue of up to 50 million new Ordinary Shares 69,749,746 77.51% 20,233,378 22.49% 89,983,124 106,732 27.24% ----------- ------- ----------- ------- ----------- ---------- -----------
Commenting Al Sisto, CEO of Tern, said :
"We are pleased that the requisite majority of shareholders have supported the revised share allotment authority proposals. As outlined in the circular convening the GM, the directors believe these authorities are vital to enable the value of Tern's portfolio companies to be protected and enhanced, enabling us to maximise shareholder value.
"The authorities provide the Company with the flexibility to support its portfolio companies as necessary and give the Company negotiating leverage, if required, when dealing with potential third-party investors in discussions about the portfolio companies. This is particularly important given the anticipated development pathways of many of the portfolio companies.
"We are also very pleased with the increase in shareholder engagement following the AGM and more than twice as many votes were cast at the GM than at the recent AGM. We have also welcomed the significant amount of feedback received from our shareholders, whether in favour of the resolutions or not, and this will help guide our strategy going forward. We are conscious that we have shareholders who do not wish to see any dilution of their holding and I would like to reassure all shareholders that the Company will not look to issue any further equity without having an appropriate use for the funds that is focussed on maximising shareholder value.
"I would like to reiterate my thanks to all those shareholders who have expressed their views and voted at the GM, and we welcome continued shareholder dialogue. These are exciting times for all Tern's portfolio companies and I look forward to reporting on their progress in the coming weeks and months."
Enquiries
Tern Plc via IFC Advisory Al Sisto (CEO) Sarah Payne (CFO) Allenby Capital Limited Tel: 0203 328 5656 (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking) IFC Advisory Tel: 0203 934 6630 (Financial PR and IR) tern@investor-focus.co.uk Tim Metcalfe Graham Herring Florence Chandler
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
ROMSSSFSEEFSEEM
(END) Dow Jones Newswires
June 02, 2021 06:23 ET (10:23 GMT)
1 Year Tern Chart |
1 Month Tern Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions