Tern Plc : Statement re Update on Device Author...

31 October 2017

Tern Plc (AIM: TERN)

Update on Device Authority Limited Fundraise

Further to the announcement of 29 September 2017, Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), announces an update on the fundraising activity of its investee company, Device Authority Limited ("Device Authority").

The fundraising with US Capital Partners (www.uscapitalpartners.net), which commenced on 28 September 2017, is underway.  As previously announced, the minimum total subscription to be accepted by Device Authority through the private placement will be US$2.5 million ("First Close"), this was initially expected to complete during October 2017.  The total potential fundraising has 120 days to complete and a further announcement will be made when the First Close has been achieved.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those obligations.

Enquiries

Tern Plc Al Sisto/Sarah Payne	via Redleaf
WH Ireland (NOMAD and joint broker) Mike Coe/Ed Allsopp	Tel: [phone]
Whitman Howard (Joint broker) Nick Lovering/Francis North	Tel: [phone]
Redleaf Communications Elisabeth Cowell/ Fiona Norman	Tel: [phone]

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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