REG - Tern PLC - Extension of loan facility agreement

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RNS Number : 4000V  Tern PLC  05 March 2026

5 March 2026

 

Tern Plc

 

("Tern" or the "Company")

 

Extension of loan facility agreement

 

Tern Plc (AIM:TERN), the investment company specialising in supporting high
growth, early-stage, disruptive Internet of Things ("IoT") technology
businesses, announces that the repayment date of the loan facility agreement
originally announced on 12 June 2023 (the "Loan") has been extended, with the
agreement of the Loan provider, to 11 September 2026.  The Board considers
that the extension gives the Company greater negotiating flexibility in
relation to funding the future capital requirements of its investee
companies.  Since being entered into the Loan has been varied twice
previously, as announced on 4 September 2024 and 15 September 2025.

 

The Company has agreed to make a payment of £38,432.88 to the Loan provider
as a partial repayment of the outstanding Loan balance and accrued interest,
plus a Loan extension fee of £6,000. Following these payments £120,000 will
remain outstanding under the Loan and this amount, plus accrued interest at a
rate of 1.00% per calendar month, will be repayable by the Company on or
before 11 September 2026.

 

Enquiries

 

 Tern Plc                                           via IFC Advisory

 Jane McCracken (Interim Non-Executive Chair)

 Allenby Capital Limited                            Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 Alex Brearley / Ashur Joseph (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 IFC Advisory                                       Tel: 0203 934 6632

 (Financial PR and IR)

 Tim Metcalfe

 Graham Herring

 Florence Staton

 

 

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