Business
Open Offer to raise up to £642,486
Tern PLC announced an Open Offer to raise up to £642,486 before expenses, through the issue of up to 128,497,293 Open Offer Shares at a price of 0.50p per share. Qualifying shareholders are entitled to subscribe for 1 Open Offer Share for every 5 Ordinary Shares held on the record date. The issue price represents a 20% discount to the closing middle market price of 0.625p per Ordinary Share on September 26, 2025. Admission of the Open Offer Shares to trading on AIM is expected to occur on October 16, 2025, and the Open Offer is not underwritten. The company's unaudited cash balance as of August 31, 2025, was approximately £150,000. Disclaimer*
About this update from Tern Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND FOR INFORMATION PURPOSES ONLY AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION, DISTRIBUTION, OFFER OR SALE WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN TERN PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF TERN PLC.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\").\n29 September 2025\nTern Plc\n(\"Tern\" or the \"Company\")\nOpen Offer at 0.50p per Open Offer Share to raise up to £642,486\nTern Plc (AIM:TERN), the company focused on value creation from Internet of Things (\"IoT\") technology businesses, announces an Open Offer to raise up to £642,486 (before expenses) through the issue of up to 128,497,293 Open Offer Shares at an Issue Price of 0.50p per Open Offer Share.\nUnder the Open Offer, all Qualifying Shareholders are entitled to subscribe for Open Offer Shares at the Issue Price on the basis of:\n1 Open Offer Share for every 5 Ordinary Shares held on the Record Date.\nThe Issue Price of 0.50p per Open Offer Share represents a discount of 20 per cent. to the closing middle market price of 0.625p for each Ordinary Share on 26 September 2025 (the latest practicable date prior to this announcement).\nThe Open Offer is only conditional upon the admission of the Open Offer Shares to trading on AIM. It is expected that Admission will become effective and dealings in the Open Offer Shares will commence on 16 October 2025. The Open Offer is not underwritten.\nThe Open Offer Shares will, when issued and fully paid...