REG - Tern PLC - Further re. Wyld Networks Warrant Exercise

TernAnnouncement

22/12/2022 14:45

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RNS Number : 6670K  Tern PLC  22 December 2022

 

22 December 2022

 

Tern Plc

("Tern" or the "Company")

 

Further re. Wyld Networks Warrant Exercise

 

Tern Plc (AIM:TERN), the company focused on value creation from Internet of
Things ("IoT") technology businesses, is pleased to note that, following the
Company's announcement on 13 December 2022, Wyld Networks AB ("Wyld Networks")
has announced that approximately 97.6% of its outstanding TO2 Warrants have
been exercised, providing approximately SEK 19.4 million (approximately £1.5
million), before issuing costs, to Wyld Networks.

 

As previously announced, Tern has exercised all of its TO2 Warrants to
subscribe for 320,454 shares in Wyld Networks at SEK 8.72 per share, for a
total cost of SEK 2,794,359 (approximately £220,000), funded from Tern's
existing cash resources.  The TO2 Warrants were issued to the Company
pursuant to its investment as part of Wyld Networks' Offering in conjunction
with its IPO and admission to trading on the NASDAQ First North Growth Market
in Stockholm on 2 July 2021.

 

Prior to the completion of the TO2 Warrant exercises Tern held 46.5% of Wyld
Networks' issued share capital.  Following the completion of the TO2 Warrant
exercises Tern's holding in Wyld Networks has reduced to 41.2% of Wyld
Networks' issued share capital.

 

Capitalised terms not otherwise defined herein have the same meaning as in the
Company's announcement "Proposed IPO of Wyld Networks" made on 9 June 2021.

 

Enquiries

 

 Tern Plc                                                     via IFC Advisory

 Al Sisto (CEO)

 Sarah Payne (CFO)

 Allenby Capital Limited                                      Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 David Worlidge / Alex Brearley (Corporate Finance)

 Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)

 IFC Advisory                                                 Tel: 0203 934 6630

 (Financial PR and IR)                                        tern@investor-focus.co.uk (mailto:tern@investor-focus.co.uk)

 Tim Metcalfe

 Graham Herring

 Florence Chandler

 

 

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