Tern Plc : Issue of Equity

24 December 2014

Tern Plc

(AIM: TERN)

Placing, Directors' dealings, shares in issue

Tern Plc (AIM:TERN), the investment company specialising in the cloud and mobile sectors, is pleased to announce it has raised £294,500 before expenses through a placing of 3,272,222 million new ordinary shares of 0.02p each ("Ordinary Shares") at a price of 9p per Ordinary Share ("the Placing").

The proceeds of the Placing will be used to facilitate further investments in accordance with the Company's investing policy and to provide additional finance for the existing portfolio, particularly the opportunities for Cryptosoft Limited.

In addition, Angus Forrest and Michael Clark who provided Convertible Unsecured Loanstock in the reorganisation on 16 August 2013 are each converting £20,000 into Ordinary shares at 2.016 pence per share into 992,063 Ordinary Shares, a total of 1,984,126 Ordinary Shares.

Application has been made for the new ordinary shares to be admitted to AiM and it is expected that admission will take place and trading in the new ordinary shares will commence on 5 January 2015.

When the new shares are admitted to trading the issued share capital will increase to 45,228,527 Ordinary Shares of 0.02p and each share is entitled to one vote.  The Company does not hold any shares in Treasury.  The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

The directors' holdings are as follows:

	Number of Shares	%
Michael Clark	4,216,289	9.3
Angus Forrest	4,216,289	9.3
Al Sisto	2,400,000	5.3
Bruce Leith	2,173,900	4.8

Angus Forrest, Chairman of Tern plc said, "We are pleased by the continuing strong level of demand for the shares.  We have an exciting portfolio operating in strong growth markets and expect there will be commensurate returns."

Enquiries:

Tern plc	Tel: [phone]
Angus Forrest
WH Ireland NOMAD and Broker	Tel: [phone]
John Wakefield
Peterhouse Corporate Finance (Joint broker)	Tel: [phone]
Lucy Williams / Duncan Vasey
Redleaf Polhill	Tel: [phone]
Charlie Geller	[e-mail]

About Tern:

Tern Plc acquires and invests in privately owned companies with self-owned IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to improve the business model, accelerate growth, expand the business globally, and identify exit opportunities.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

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