Tern Plc Tern Plc : Statement Re Conversion Of Loan Note
January 17 2018 - 1:00AM
UK Regulatory
TIDMTERN
17 January 2018
Tern Plc (the "Company", or the "Group")
Conversion of Loan Note
Tern Plc (AIM:TERN), the investment company specialising in the Internet
of Things ("IoT"), announces that it will issue and allott 11,000,000
Ordinary Shares of 0.02 pence each ("Ordinary Shares") at a price of
2.5p pursuant to the conversion of GBP275,000 of the loan note which was
announced on 9 January 2018.
As previously announced, the funds raised will be used to maintain the
Company's current position in its portfolio companies and for general
working capital.
Application will be made for the 11,000,000 new Ordinary Shares to be
admitted to trading on AIM and it is expected that admission will take
place on or around 8:00 a.m. on 22 January 2018 ("Admission").
In accordance with the Disclosure Guidance and Transparency Rules (DTR
5.6.1R) the Company hereby notifies the market that immediately
following Admission its issued share capital will consist of 172,901,140
Ordinary Shares of 0.02 pence each. The Company does not hold any shares
in treasury. Shareholders may use these figures as the denominator for
the calculations by which they will determine if they are required to
notify their interest, or a change to their interest, in the Company
under the FCA's 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 Communications
Al Sisto/Sarah Payne
WH Ireland Tel: 0117 945 3470
(NOMAD and joint broker)
Mike Coe/Ed Allsopp
Whitman Howard Tel: 020 7659 1234
(Joint broker)
Nick Lovering/Francis North
Redleaf Communications Tel: 020 7382 4730
Elisabeth Cowell/Fiona Norman/Alina Haritonova
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Tern Plc via Globenewswire
(END) Dow Jones Newswires
January 17, 2018 02:00 ET (07:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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