REG - Tern PLC - Wyld Networks Warrant Exercise

TernAnnouncement

13/12/2022 07:00

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RNS Number : 4559J  Tern PLC  13 December 2022

 

13 December 2022

 

Tern Plc

("Tern" or the "Company")

 

Wyld Networks Warrant Exercise

 

Tern Plc (AIM:TERN), the company focused on value creation from Internet of
Things ("IoT") technology businesses, is pleased to announce that it has
committed to exercise the 320,454 TO2 Warrants in Wyld Networks AB ("Wyld
Networks") which represents all of the TO2 Warrants that were issued to Tern
pursuant to its investment as part of Wyld Networks' Offering in conjunction
with Wyld Networks' IPO and admission to trading on the NASDAQ First North
Growth Market in Stockholm on 2 July 2021.

 

Tern will pay SEK 2,794,359 (approximately £220,000) to exercise its TO2
Warrants to subscribe for 320,454 shares in Wyld Networks at SEK 8.72 per
share, and this will be funded from Tern's existing cash resources.

 

Prior to the completion of the TO2 Warrant exercises Tern held 46.5% of Wyld
Networks' issued share capital.  The subscription period for the in
aggregate, 2,275,000 TO2 Warrants commenced on 6 December 2022 and will end on
19 December 2022.  If all of the TO2 Warrants are exercised Tern's holding in
Wyld Networks will reduce to 41.0% and a further announcement regarding Tern's
resultant holding in Wyld Networks will be made when the exercise period for
the TO2 Warrants is completed.

 

Capitalised terms not otherwise defined herein have the same meaning as in the
Company's announcement "Proposed IPO of Wyld Networks" made on 9 June 2021.

 

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 (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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