DA convertible loan note maturity date extension

RNS Number : 0339U

Tern PLC

31 March 2021

 

31 March 2021

Tern Plc

("Tern" or the "Company")

Device Authority convertible loan note maturity date extension

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), announces that the maturity date for all convertible loan notes provided to Device Authority Limited ("Device Authority") by Tern, Alsop Louie Partners and the George Samenuk Family Trust et al., has been extended to 30 November 2021. All existing repayment and conversion rights, automatic and at the holder's option, have also been extended to 30 November 2021.  All other terms of these loan notes remain unchanged and as previously announced. The outstanding loan balance payable by Device Authority to Tern currently stands at US$4.3 million, excluding US$0.4 million of interest accrued to date.

Enquiries

Tern Plc Al Sisto (CEO) Sarah Payne (CFO)	via IFC Advisory
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)	Tel: [phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler	Tel: [phone] [e-mail]

 

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