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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 1.92% | 2.65 | 2.60 | 2.70 | 2.65 | 2.60 | 2.60 | 555,848 | 12:56:38 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 66k | -10.45M | -0.0269 | -0.99 | 10.3M |
Dow Jones received a payment from EQS/DGAP to publish this press release.
Tern PLC (TERN) Tern PLC: Update re. Convertible Loan to Device Authority Limited 20-Feb-2019 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. 20 February 2019 Tern Plc (the "Company", or the "Group") Update re. Convertible Loan to Device Authority Limited On 14 January 2019, Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), announced that it had agreed to provide a convertible secured loan note up to a total value of US$400,000 ("the Loan") to its portfolio company, Device Authority Limited ("DA"). The Company advanced US$240,000 of the Loan to DA at that time and the provision of the balance of US$160,000 was subject to the achievement of certain commercial milestones by DA by 20 February 2019. The Company is pleased to announce that DA has achieved the necessary commercial milestones and has today advanced the remaining US$160,000 of the Loan. Accordingly, Tern's total convertible secured loan note position with DA is currently US$2,100,867. The Loan is repayable on 30 June 2019, or such other date as may be agreed between DA and the noteholders, to coincide with the other outstanding loan notes to DA. In accordance with the terms of the Loan, the Company has been issued with a further 416,000 warrants, which are exercisable at any time before 11 January 2026. Each warrant provides the holder with the right to subscribe for one Class A Preference Share of DA at an exercise price of GBP0.036681585 per share. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 Enquiries Tern Plc via Newgate Communications Al Sisto/Sarah Payne Allenby Capital Tel: 020 3328 5656 (Nomad and joint broker) David Worlidge/Alex Brearley Whitman Howard Tel: 020 7659 1234 (Joint broker) Nick Lovering/Christopher Furness Newgate Communications Tel: 020 3757 6880 Elisabeth Cowell/Fiona Norman ISIN: GB00BFPMV798 Category Code: MSCM TIDM: TERN LEI Code: 2138005F87SODHL9CQ36 Sequence No.: 7565 EQS News ID: 777831 End of Announcement EQS News Service
(END) Dow Jones Newswires
February 20, 2019 02:01 ET (07:01 GMT)
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