Business
Tern Plc :Statement re: Conversion of Loan Note
Tern Plc :Statement re: Conversion of Loan Note.
About this update from Tern Plc
[{"type":"text","content":"\n Tern Plc :Statement re: Conversion of Loan Note16 February 2018Tern Plc (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 13,750,000 Ordinary Shares of 0.02 pence each (\"Ordinary Shares\") at a price of 2.0p pursuant to the conversion of £275,000 of the loan note which was announced on 9 January 2018. As previously announced, the funds raised will be used to maintain the Company's current position in its portfolio companies and for general working capital.Application will be made for the 13,750,000 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 22 February 2018 (\"Admission\").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 186,651,140 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, or a change to their interest, in the Company under the FCA's Disclosure Guidance 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 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":4027,"tagName":"div"}]