TIDMTERN

RNS Number : 4546H

Tern PLC

06 April 2022

6 April 2022

Tern Plc

("Tern" or the "Company")

Further re. Wyld Networks Warrant Exercise

Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, is pleased to note that, following the Company's announcement on 28 March 2022, Wyld Networks AB ( " Wyld Networks") has announced that approximately 98.6% of its outstanding TO1 Warrants have been exercised, providing approximately SEK 25.2 million (approximately GBP2.0 million), before issuing costs, to Wyld Networks.

As previously announced, Tern has exercised all of its TO1 Warrants to subscribe for 320,454 shares in Wyld Networks at SEK 11.25 per share, for a total cost of SEK 3,605,108 (approximately GBP290,000), funded from Tern's existing cash resources. The TO1 Warrants were issued to the Company pursuant to its investment as part of Wyld Networks' Offering in conjunction with its IPO and admission to trading on the NASDAQ First North Growth Market in Stockholm on 2 July 2021.

Prior to the completion of the TO1 Warrant exercises Tern held 58.7% of Wyld Networks' issued share capital. Following the completion of the TO1 Warrant exercises Tern's holding in Wyld Networks has reduced to 49.2% of Wyld Network's issued share capital.

Capitalised terms not otherwise defined herein have the same meaning as in the Company's announcement "Proposed IPO of Wyld Networks" made on 9 June 2021.

Enquiries

 
 Tern Plc                                      via IFC Advisory 
  Al Sisto (CEO) 
  Sarah Payne (CFO) 
 
   Allenby Capital Limited                       Tel: 0203 328 5656 
   (Nominated Adviser and Broker) 
   David Worlidge / Alex Brearley (Corporate 
   Finance) 
   Matt Butlin / Kelly Gardiner (Sales 
   and Corporate Broking) 
 
   IFC Advisory                                  Tel: 0203 934 6630 
   (Financial PR and IR)                         tern@investor-focus.co.uk 
   Tim Metcalfe 
   Graham Herring 
   Florence Chandler

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April 06, 2022 03:22 ET (07:22 GMT)

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