REG - Tern PLC - Exercise of Warrants

TernAnnouncement

15/05/2024 07:00

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RNS Number : 4454O  Tern PLC  15 May 2024

 

15 May 2024

 

Tern Plc

("Tern" or the "Company")

 

Exercise of Warrants

 

Tern Plc (AIM:TERN), the investment company specialising in supporting high
growth, early-stage, disruptive Internet of Things ("IoT") technology
businesses, announces that it has received a notice to exercise warrants
("Warrants") over 5,524,007 new ordinary shares of 0.02 pence each in the
Company (the "Warrant Shares") at an exercise price of 2 pence per Warrant,
raising approximately £110,480 for the Company.

 

The Warrants were issued to the provider of the up to £3 million loan
facility (the "Facility"), in respect of the initial £500,000 that was drawn
down by Tern under the Facility, as announced by the Company on 12 June 2023.
The exercise price of 2 pence per Warrant is equivalent to the issue price of
Tern's placing announced on 24 January 2024, in line with the terms of the
Warrants.

 

Admission and Total Voting Rights

 

Application will be made to the London Stock Exchange for the Warrant Shares
to be admitted to trading on AIM ("Admission").  It is expected that
Admission will become effective and that dealings in the Warrant Shares on AIM
will commence on or around 20 May 2024.

 

In accordance with the Financial Conduct Authority's Disclosure, Guidance and
Transparency Rules, the Company confirms that following Admission, the
Company's enlarged issued ordinary share capital will comprise 432,700,318
ordinary shares of 0.02 pence each in the Company. The Company does not hold
any shares in Treasury.  Therefore, from Admission, the total number of
voting rights in the Company will be 432,700,318 and this 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.

 

Enquiries

 

 Tern Plc                                                       via IFC Advisory

 Ian Ritchie (Chairman)

 Allenby Capital Limited                                        Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 Alex Brearley / Dan Dearden-Williams (Corporate Finance)

 Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)

 IFC Advisory                                                   Tel: 0203 934 6630

 (Financial PR and IR)

 Tim Metcalfe

 Graham Herring

 Florence Chandler

 

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