REG - Tern PLC - Placing to raise £222,000

TernAnnouncement

Tue 07:00

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RNS Number : 8034E  Tern PLC  19 May 2026

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK
LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN
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SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

 

19 May 2026

 

Tern plc

 

("Tern" or the "Company")

 

Placing to raise £222,000

 

Tern Plc (AIM:TERN), the Company focused on value creation from Internet of
Things ("IoT") technology businesses, announces that it has raised £222,000,
before expenses, through a placing of 37,000,000 new ordinary shares (the
"Ordinary Shares") of 0.02p each in the Company (the "Placing Shares") at a
price of 0.60 pence per new Ordinary Share (the "Issue Price", together the
"Placing"). The Placing is conditional upon the Placing Shares being admitted
to trading on AIM ("Admission").

 

The Placing, conducted at the same Issue Price as the Open Offer that
completed on 14 May 2026, utilises substantially all of the Tern Director's
remaining authority to allot new Ordinary Shares granted at the Company's
General Meeting held on 8 May 2026 and is for an amount of Ordinary Shares
marginally less than the number of Open Offer Shares not subscribed for by
Qualifying Shareholders in the Open Offer.

 

The net proceeds of the Placing are intended to be used towards the same
purposes outlined in the Company's Circular and announcement of 21 April 2026
in relation to the Open Offer. Further announcements are expected to be made
in due course in relation to the application of the net proceeds of the
Placing and the Open Offer.

 

CMC Markets UK Plc ("CMC Markets") trading as CMC CapX, acted as the Company's
sole placing agent in respect of the Placing.

 

Admission and Total Voting Rights

 

The Placing Shares will rank pari passu in all respects with the Company's
existing issued Ordinary Shares. The Placing is conditional, inter alia, on:
i) there being no breach of the obligations under the Placing Agreement
entered into between CMC Markets and the Company prior to Admission; and ii)
Admission. Application has been made to the London Stock Exchange for the
Placing Shares to be admitted to trading on AIM. It is expected that Admission
will become effective and that dealings in the Placing Shares on AIM will
commence on or around 22 May 2026.

 

In accordance with the Financial Conduct Authority's Disclosure, Guidance and
Transparency Rules, the Company confirms that following Admission, the
Company's enlarged issued ordinary share capital will comprise 855,543,681
Ordinary Shares. The Company does not hold any shares in Treasury.
Therefore, from Admission, the total number of voting rights in the Company
will be 855,543,681 and this figure may be used by shareholders in the Company
as the denominator for the calculations to determine if they are required to
notify their interest in, or a change to their interest in the Company, under
the Disclosure Guidance and Transparency Rules.

 

Capitalised terms used but not otherwise defined in this announcement bear the
meanings ascribed to them in the circular posted to shareholders on 21 April
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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