REG - Tern PLC - Investment in Talking Medicines CLNs

TernAnnouncement

26/05/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260526:nRSZ5495Fa&default-theme=true

RNS Number : 5495F  Tern PLC  26 May 2026

26 May 2026

 

Tern Plc

 

("Tern" or the "Company")

 

Investment in Talking Medicines Convertible Loan Notes

 

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 been issued with a principal value of
approximately £270,000 of new unsecured convertible loan notes (the "CLNs")
by Talking Medicines Limited ("Talking Medicines").  The CLNs have been
issued in return for Tern having agreed to cancel existing amounts owed to
Tern by Talking Medicines aggregating to approximately £87,000 and Tern
investing a further approximately £48,000 of new funds.  The resulting CLNs
provide Tern with investment exposure at a principal value approximately
double the aggregate value of the amount owed to Tern and the new funds that
Tern has invested.  Tern's new cash investment in the Talking Medicines CLNs
has been funded from the proceeds of the Company's recent Open Offer.

 

The CLNs carry an interest rate of 10 per cent. per annum and the CLNs'
principal amount and accrued interest are convertible on either an exit or a
fundraising of at least £2 million undertaken by Talking Medicines, in both
cases at a 20 per cent discount to the exit or fundraising price.  If neither
an exit nor a relevant fundraising has taken place, the CLNs will mature on 21
November 2029, in line with the approximately £0.52 million of convertible
loan notes that the Company already holds in Talking Medicines.

 

As at 30 June 2025, the date of Tern's last published book valuation, Tern's
equity and convertible loan note holding in Talking Medicines had a total
unaudited book value of £2.1 million. Following the issue of the CLNs, Tern's
equity holding in Talking Medicines will be unchanged and Tern will continue
to hold approximately 23.8% of Talking Medicines' equity, but now with an
increased total convertible loan note holding of approximately £0.79 million.

 

Jane McCracken, Interim Non-Executive Chair of Tern, said: "We are pleased to
be able to provide further funding to Talking Medicines which will assist
their continued growth trajectory. We remain very excited by the progress
Talking Medicines is making which we believe will translate into value for
Tern shareholders in due course."

 

Further information on Talking Medicines

 

Talking Medicines uses Advanced Data Science and Artificial Intelligence to
empower healthcare advertising agencies, enabling them to consistently win and
retain their Pharma clients whilst achieving improved productivity, with swift
project delivery.  Talking Medicines is seeking to revolutionise the over
US$23bn healthcare advertising market (Research and Markets, Healthcare
Advertising Market Report 2025), through unlocking strategic intelligence
within conversational data.  Talking Medicines empowers customers to gain
strategic advantages in analysis, measurement, and enhanced brand equity
through structuring conversational data.

 

Based on Talking Medicines' latest statutory accounts for the year ended 31
December 2024, as at that date it had unaudited net liabilities of
approximately £1.4 million and incurred an unaudited loss for the year of
approximately £0.51 million.  Given the historic nature of these figures,
Tern does not consider this to be representative of the current business,
trading performance and prospects of Talking Medicines.

 

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFIFETEFIEFIR



            Copyright 2019 Regulatory News Service, all rights reserved