Business
Placing to raise £222,000
Tern Plc has successfully raised £222,000 before expenses through a placing of 37,000,000 new ordinary shares at 0.60 pence per share. These funds will be used for purposes previously outlined in relation to an Open Offer. Following the admission of these new shares, expected around May 22, 2026, the company's enlarged issued ordinary share capital will consist of 855,543,681 ordinary shares, representing the total number of voting rights. Disclaimer*
About this update from Tern Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\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\"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n19 May 2026\n \nTern plc\n \n(\"Tern\" or the \"Company\")\n \nPlacing to raise £222,000\n \nTern Plc (AIM:TERN), the Company focused on value creation from Internet of Things (\"IoT\") technology businesses, announces that it has raised £222,000, before expenses, through a placing of 37,000,000 new ordinary shares (the \"Ordinary Shares\") of 0.02p each in the Company (the \"Placing Shares\") at a price of 0.60 pence per new Ordinary Share (the \"Issue Price\", together the \"Placing\"). The Placing is conditional upon the Placing Shares being admitted to trading on AIM (\"Admission\").\n \nThe Placing, conducted at the same Issue Price as the Open Offer that completed on 14 May 2026, utilises substantially all of the Tern Director's remaining authority to allot new Ordinary Shares granted at the Company's General Meeting held on 8 May 2026 and is for an amount of Ordinary Shares marginally less than the number of Open Offer Shares not subscribed for by Qualifying Shareholders in the Open Offer.\n \nThe net proceeds of the Placing are intended to be used towards the same purposes outlined in the Company's Circular and announcement of 21 April 2026 in relation to the Open Offer. Further announcements are expected to be made in due course in relation to the application of the net proceeds of the Placing and the Open Offer.\n \nCMC Markets UK Plc (\"CMC Markets\") trading as CMC CapX, acted as the Company's sole placing agent in respect of the Placing.\n \nAdmission and Total Voting Rights\n \nThe P...