Business
Tern Plc : Issue of Equity
Tern Plc : Issue of Equity.
About this update from Tern Plc
[{"type":"text","content":"\n Tern Plc : Issue of Equity13 December 2017Tern Plc (AIM: TERN)(the \"Company\", or the \"Group\")Conversion of loan noteTern Plc (AIM:TERN), the investment company specialising in the Internet of Things (IoT), announces that it will issue and allott 10,000,000 Ordinary Shares of 0.02 pence each (\"Ordinary Shares\") at a price of 2.75p pursuant to the conversion of £275,000 of the loan note which was announced on 30 November 2017. Application will be made for the 10,000,000 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 19 December 2017 (\"Admission\"). As previously announced, the funds raised will be used to facilitate the loan to the Company's portfolio company, Device Authority, and to build and grow the pipeline of investment opportunities.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 143,286,855 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 in, or a change to their interest in, the Company under the FCA's Disclosure Gudance and Transparency Rules.This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014Enquiries Tern PlcAl Sisto/Sarah Payne via Redleaf WH Ireland(NOMAD and joint broker)Mike Coe/Ed Allsopp Tel: 0117 945 3470 Whitman Howard(Joint broker)Nick Lovering/Francis North Tel: 020 7659 1234 Redleaf CommunicationsElisabeth Cowell/Fiona Norman/Alina Haritonova Tel: 020 7382 4730 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\n \n ","length":4073,"tagName":"div"}]