Tern Plc Tern Plc : Statement Re Conversion Of Loan Note

 
TIDMTERN 
 
 
   17 January 2018 
 
   Tern Plc (the "Company", or the "Group") 
 
   Conversion of Loan Note 
 
   Tern Plc (AIM:TERN), the investment company specialising in the Internet 
of Things ("IoT"), announces that it will issue and allott 11,000,000 
Ordinary Shares of 0.02 pence each ("Ordinary Shares") at a price of 
2.5p pursuant to the conversion of GBP275,000 of the loan note which was 
announced on 9 January 2018. 
 
   As previously announced, the funds raised will be used to maintain the 
Company's current position in its portfolio companies and for general 
working capital. 
 
   Application will be made for the 11,000,000 new Ordinary Shares to be 
admitted to trading on AIM and it is expected that admission will take 
place on or around 8:00 a.m. on 22 January 2018 ("Admission"). 
 
   In accordance with the Disclosure Guidance and Transparency Rules (DTR 
5.6.1R) the Company hereby notifies the market that immediately 
following Admission its issued share capital will consist of 172,901,140 
Ordinary Shares of 0.02 pence each. The Company does not hold any shares 
in treasury. Shareholders may use these figures as the denominator for 
the calculations by which they will determine if they are required to 
notify their interest, or a change to their interest, in the Company 
under the FCA's 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 Communications 
 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/Alina Haritonova 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Tern Plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

January 17, 2018 02:00 ET (07:00 GMT)

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