Tern PLC Wyld Networks Warrant Exercise (4559J)
13 December 2022 - 6:00PM
UK Regulatory
TIDMTERN
RNS Number : 4559J
Tern PLC
13 December 2022
13 December 2022
Tern Plc
("Tern" or the "Company")
Wyld Networks Warrant Exercise
Tern Plc (AIM:TERN), the company focused on value creation from
Internet of Things ("IoT") technology businesses, is pleased to
announce that it has committed to exercise the 320,454 TO2 Warrants
in Wyld Networks AB ( " Wyld Networks") which represents all of the
TO2 Warrants that were issued to Tern pursuant to its investment as
part of Wyld Networks' Offering in conjunction with Wyld Networks'
IPO and admission to trading on the NASDAQ First North Growth
Market in Stockholm on 2 July 2021.
Tern will pay SEK 2,794,359 (approximately GBP220,000) to
exercise its TO2 Warrants to subscribe for 320,454 shares in Wyld
Networks at SEK 8.72 per share, and this will be funded from Tern's
existing cash resources.
Prior to the completion of the TO2 Warrant exercises Tern held
46.5% of Wyld Networks' issued share capital. The subscription
period for the in aggregate, 2,275,000 TO2 Warrants commenced on 6
December 2022 and will end on 19 December 2022. If all of the TO2
Warrants are exercised Tern's holding in Wyld Networks will reduce
to 41.0% and a further announcement regarding Tern's resultant
holding in Wyld Networks will be made when the exercise period for
the TO2 Warrants is completed.
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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END
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