Business
Tern Plc : Advance of funds
Tern Plc : Advance of funds.
About this update from Tern Plc
[{"type":"text","content":"\n Tern Plc : Advance of fundsTern Plc(the \"Company\" or \"Tern\")Advance of fundsTern Plc (Tern), the investment company specialising in the cloud and mobile sectors, is pleased to announce that Al Sisto, a director has advanced £100,000 to the Company prior to converting it into new equity.The advancement is provided interest free, for a term of 366 days and will be convertible at the same price as that of the next equity capital fund raising.Related party transactionThe loan by Mr Sisto to the Company is a related party transaction as defined in the AIM Rules for Companies. Having consulted the Company's nominated adviser, the independent directors of the Company consider the terms of the loan to be fair and reasonable insofar as the Company's shareholders are concerned.Enquiries: Tern plc Tel: 07973 561 232 Angus Forrest WH Ireland NOMAD and Broker Tel: 0117 945 3471 John Wakefield Peterhouse Corporate Finance (Joint broker) Tel: 020 7469 0935 Lucy Williams Redleaf Polhill Tel: 020 7382 4769 Charlie Geller About Tern:Tern Plc acquires and invests in privately owned companies with self-owned IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to improve the business model, accelerate growth, expand the business globally, and identify exit opportunities.This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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 GlobenewswireHUG#1843331\n \n ","length":4920,"tagName":"div"}]