REG - Tern PLC - Result of General Meeting

TernAnnouncement

23/09/2024 11:15

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RNS Number : 2482F  Tern PLC  23 September 2024

23 September 2024

 

Tern Plc

 

("Tern" or the "Company")

Result of GM

Tern Plc (AIM:TERN), the company focused on value creation from Internet of
Things ("IoT") technology businesses, announces that at the Company's General
Meeting ("GM") held earlier today all resolutions were passed.

 

Details of the proxy voting on each resolution are set out below:

 

 Resolution                                                Votes For                                            Votes Against                                        Votes Withheld*  Total Votes Cast (excluding Withheld)*
                              No. of ordinary shares       % of ordinary shares voted*  No. of ordinary shares  % of ordinary shares voted*  No. of ordinary shares
                              ORDINARY RESOLUTION
 1.   To authorise the Directors to allot securities       45,100,041                   75.73                   14,456,053                   24.27                   225,267          59,556,094
                              SPECIAL RESOLUTION
 2.   To disapply statutory pre-emption rights             44,887,088                   75.37                   14,669,006                   24.63                   225,267          59,556,094

 

*A 'Vote Withheld' is not a vote in law and has not been counted in the
calculation of the proportion of the votes 'For' and 'Against' a resolution.

 

The resolutions are set out in full in the Company's Notice of General Meeting
dated 5 September 2024 and available on the Company's website at:

 https://ternplc.com/aim-rule-26/ (https://ternplc.com/aim-rule-26/) .

 

The votes received represented approximately 13.76 per cent. of the Company's
issued share capital.

 

Whilst Resolutions 1 and 2 were passed with the necessary majorities, the
Board notes the voting in relation to these resolutions. The Board is
committed to continuing an open dialogue with the Company's shareholders.
Following the voting at today's GM, where it is able to, the Board will
continue to seek to engage with those shareholders who are understood to have
voted against certain of the resolutions to understand their views and/or any
specific concerns.

 

Enquiries

 

 Tern Plc                                                       via IFC Advisory

 Ian Ritchie (Chairman)

 Allenby Capital Limited                                        Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 Alex Brearley / Dan Dearden-Williams (Corporate Finance)

 Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)

 IFC Advisory                                                   Tel: 0203 934 6630

 (Financial PR and IR)

 Tim Metcalfe

 Graham Herring

 Florence Chandler

 

 

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