REG - Tern PLC - Statement regarding Silicon Valley Bank

TernAnnouncement

13/03/2023 07:00

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RNS Number : 6671S  Tern PLC  13 March 2023

13 March 2023

 

Tern Plc

("Tern" or the "Company")

Statement regarding Silicon Valley Bank

Tern Plc (AIM:TERN), the company focused on value creation from Internet of
Things ("IoT") technology businesses, provides the following statement
regarding Silicon Valley Bank and Silicon Valley Bank UK Limited (together
"SVB").

 

Tern confirms that the Company has no banking relationship, or other financing
arrangements, with SVB.

 

While Tern continues to monitor the SVB situation and its effect on Tern's
portfolio companies, the Directors of Tern do not currently believe that any
of the portfolio companies' exposure to SVB will have a significant impact on
the net asset value of Tern.

 

Further announcements will be made, as necessary and appropriate, in due
course.

 

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 / Dan Dearden-Williams (Corporate Finance)

 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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