REG - Tern PLC - Statement re Share Price Movement

TernAnnouncement

04/08/2023 13:45

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RNS Number : 4004I  Tern PLC  04 August 2023

04 August 2023

 

Tern Plc

("Tern" or the "Company")

 

Statement re Share Price Movement

 

Tern Plc (AIM:TERN), the company focused on value creation from Internet of
Things ("IoT") technology businesses, notes the recent rise in the Company's
share price. The Board also notes today's significant rise in the share price
of Wyld Networks AB ("Wyld" or "Wyld Networks"). Wyld Networks has published a
press release today in relation to the signing of an agreement with SpaceX to
discuss potential areas of collaboration.

 

Wyld Networks is a portfolio company of Tern's in which Tern currently owns
approximately 27%.

 

Extracted from a translation of the Wyld Networks press release:

 

"Space X offers satellite connectivity for broadband through Starlink and
connectivity for IoT through Swarm. Wyld and SpaceX will explore potential
areas of collaboration to collect data from IoT sensors in remote locations.

 

Satellite connectivity can help bridge the digital divide and increase the
reach and resilience of connections for IoT devices. This is particularly the
case for the 85% of the Earth's surface that has no cellular coverage.

 

Both SpaceX and Wyld Networks operate on low-bandwidth satellite connectivity
using satellites orbiting in low orbit. These satellites cover every point on
Earth, enabling IoT devices to operate and deliver data at an affordable
price, anywhere on Earth.

 

SpaceX and Wyld will initially explore the potential of offering remote
connectivity in North, Central and South America.

 

Wyld Networks' IoT engineering team is a leader in delivering satellite IoT
connectivity solutions. Their innovative technology leads to exceptional
performance with satellites orbiting the Earth in low Earth orbit.

 

"We are excited to explore possible areas with SpaceX where our technology can
enable additional connectivity and access to data from sensors and devices in
remote locations," said Alastair Williamson, CEO Wyld Networks. "With Wyld
Connect available to deliver data from IoT devices anywhere on Earth, this is
a great opportunity to partner with the world's most important satellite
companies.""

 

The full Wyld press release may be accessed here
(https://news.cision.com/se/wyld-networks/r/wyld-networks-tecknar-avtal-med-spacex-for-att-diskutera-potentiella-samarbetsomraden,c3813450)

 

Enquiries

 

 Tern Plc                                                     via IFC Advisory

 Ian Ritchie (Chairman)

 Sarah Payne (CFO)

 Allenby Capital Limited                                      Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 Alex Brearley / Dan Dearden-Williams (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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