REG-Tern PLC Tern PLC: Equity Fundraise

TernAnnouncement

08/05/2018 07:00

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   Tern PLC (TERN)
   Tern PLC: Equity Fundraise

   08-May-2018 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   8 May 2018

                                        

                       Tern Plc ("Tern" or the "Company")

                                Equity Fundraise

                                        

   Tern Plc (AIM:TERN), the investment  company specialising in the  Internet
   of Things ("IoT"), is  pleased to announce that  it has raised  £1,750,000
   before expenses through an unconditional placing of 9,459,460 new ordinary
   shares of 0.02p each  at a price  of 18.50 pence  per ordinary share  (the
   "Placing") with a  single institutional investor,  utilising the  existing
   share authorities granted at the 2018 AGM.

    

   The net  proceeds  of  the  Placing will  be  used  primarily  to  provide
   additional finance to  develop the  businesses of  the existing  portfolio
   companies and invest in new portfolio companies.

    

   Al Sisto, CEO of Tern, commented on the Placing: "This Placing provides us
   with capital  to  continue  delivering  on our  strategy  to  add  to  our
   portfolio  of  IoT  businesses,  and  establish  Tern  as  a  leading  IoT
   investment company. As promised at our AGM and our shareholder call on  26
   April 2018, we will  continue to provide regular  updates on the  progress
   being made by our  portfolio companies which is  the key value driver  for
   Tern."

    

   Application will  be made  for the  9,459,460 new  ordinary shares  to  be
   admitted to AIM  and it  is expected that  admission will  take place  and
   trading in the new ordinary shares will commence on 14 May 2018.

    

   In accordance with the Financial Conduct Authority's Disclosure,  Guidance
   and Transparency Rules,  the Company  confirms that on  completion of  the
   Placing and following admission of the  new ordinary shares to trading  on
   AIM, the enlarged issued share capital will comprise 221,600,796  Ordinary
   Shares of 0.02p each. The Company  does not hold any shares in  Treasury. 
   Therefore the total number of voting rights in the Company is 221,600,796.
    The above  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.

    

   This announcement contains inside information for the purposes of  Article
   7 of EU Regulation 596/2014

   Enquiries

   Tern Plc
                                  via Redleaf
   Al Sisto/Sarah Payne
    

   WH Ireland                      

   (NOMAD and joint broker)       Tel: 0117 945 3470

   Mike Coe/Ed Allsopp
    

   Whitman Howard                  

   (Joint broker)                 Tel: 020 7659 1234

   Nick Lovering/Francis North
    
                                   
   Redleaf Communications
                                  Tel: 020 3757 6880
   Elisabeth Cowell/ Fiona Norman

    

    

    

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   ISIN:          GB00BFPMV798
   Category Code: MSCH
   TIDM:          TERN
   LEI Code:      2138005F87SODHL9CQ36
   Sequence No.:  5507
   EQS News ID:   682797


    
   End of Announcement EQS News Service

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