UK's Tern surges as deal with Pires terminated

Mindflair

21/07/2022 15:18

** Shares of UK-based investing co Tern Plc  TERNT.L  up as
much as 11% at 12.50p
    ** Says all-share offer by co for issued and to be issued
share capital of Pires Investments  PIRI.L  has been terminated
 urn:newsml:reuters.com:*:nASM000K8V  urn:newsml:reuters.com:*:nFWN2Z22B0
    ** Board reviewing all of Tern's other holdings 
    ** Says current intention is not to add any new companies to
the TERNT's network until it has received a capital return from
an exit of one of its current investments
    ** Co is assessing its structure to ensure that it is
configured to best meet co's and its network of companies'
immediate needs
    ** Pires down 5% at 5.15p
    ** Including session gains, stock has risen ~1% YTD 

 (Reporting by Amna Karimi and Radhika Anilkumar in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))