Two videos:
1. Overview of Tern (c.6 mins)
Features CEO Albert E Sisto and FD Sarah Payne.
http://www.piworld.co.uk/2017/06/01/introduction-to-tern-plc-tern/
About Tern – 0:19
The opportunity – 1:05
Adding Value – 2:13
Building Partnerships – 2:39
Tern’s vision – 3:12
Market perception – 4:02
Investing in Tern – 4:34
2. FAQs (c.7 mins)
http://www.piworld.co.uk/2017/06/01/tern-plc-tern-questions-answers/
Features CEO, Albert E Sisto and FD, Sarah Payne.
What gives Tern a competitive advantage? – 0:20
What markets are of interest to Tern and why? – 1:13
What are you focussed on right now? – 2:05
What do you look for in a business? – 2:47
How do you source investments? – 3:27
How would you fund new investments? – 4:35
How should investors gauge progress? – 5:07
What does long-term success look like to you? – 5:33
Tern appears to be an investment company where one investment materially dominates the portfolio. Tern has 56.9% of Device Authority Limited, which Tern values at £10.47m; that's essentially the same as the entire market cap of Tern.
The website for Device Authority Limited is: www.deviceauthority.com
It's not immediately obvious how anyone buys a product from the website and I can't find any information that provides the vital metrics upon which I could make up my own mind whether £10.47m is the right price for a 56.9% stake. The only filings at Companies House are for December 2015 and they don't look pretty.
It's not obvious why one would invest.
JakNife
