TIDMTERN

RNS Number : 6670K

Tern PLC

22 December 2022

22 December 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 13 December 2022, Wyld Networks AB ( " Wyld Networks") has announced that approximately 97.6% of its outstanding TO2 Warrants have been exercised, providing approximately SEK 19.4 million (approximately GBP1.5 million), before issuing costs, to Wyld Networks.

As previously announced, Tern has exercised all of its TO2 Warrants to subscribe for 320,454 shares in Wyld Networks at SEK 8.72 per share, for a total cost of SEK 2,794,359 (approximately GBP220,000), funded from Tern's existing cash resources. The TO2 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 TO2 Warrant exercises Tern held 46.5% of Wyld Networks' issued share capital. Following the completion of the TO2 Warrant exercises Tern's holding in Wyld Networks has reduced to 41.2% of Wyld Networks' 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

FURTTBITMTBTBIT

(END) Dow Jones Newswires

December 22, 2022 09:31 ET (14:31 GMT)

Tern (LSE:TERN)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Tern Charts.
Tern (LSE:TERN)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Tern Charts.