Business
Tern Plc : Statement re Additional Investment i...
Tern Plc : Statement re Additional Investment i....
About this update from Tern Plc
[{"type":"text","content":"\n Tern Plc : Statement re Additional Investment in InVMA29 January 2018Tern Plc (AIM: TERN)Additional Investment in InVMATern Plc (AIM: TERN), the investment company specialising in the Internet of Things (\"IoT\"), is pleased to announce that it has made a further £125,000 investment in InVMA Limited (\"InVMA\"), one of its existing portfolio companies.This investment enables Tern to maintain its 50% stake in InVMA, a key strategic partner for Device Authority Limited. As recently reported InVMA achieved £1 million committed sales orders in 2017 and the Tern Board considers InVMA to be an important investment which has the potential to deliver significant value in the future. InVMA builds solutions that link connected things to their customers' systems to create new revenue streams, enhance customer satisfaction and improve operational efficiency. InVMA enables an IoT that delivers real business value and competitive advantage.After this investment, Tern will have invested £500,000 in InVMA. If Tern wishes to maintain its 50% stake, a further £500,000 will be payable on or before 31 July 2018. If no further payments are made, then Tern's current holding will decrease to 25%.Bruce Leith, Business Development Director for Tern, said:\"InVMA finished the year strongly in 2017, and with this is mind, we are delighted to continue to support the development of this promising company which has an exciting pipeline of opportunities.\"This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014Enquiries Tern PlcAl Sisto/Sarah Payne via Redleaf Communications 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":4428,"tagName":"div"}]