Statement re Fundraising of £0.6 million a...

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Tern plc

("Tern" or the "Company")

Fundraising of £0.6 million
Notice of interim results

Tern plc (AIM:TERN), the investment company focused on the Internet of Things (IoT), announced on 11 August the launch of a fundraising comprising a company subscription organised by Whitman Howard with an offer via PrimaryBid (the "Offer"),  (together the "Fundraising") to raise approximately £300,000 (before expenses) at an issue price of 6.6 pence per New Ordinary Share.  

The Company is pleased to announce that it has successfully completed the Fundraising. The Fundraising received a positive response from investors, and was oversubscribed.  The Offer was on a "first come, first served" basis and was closed early at 12pm on 13 August 2017, with the Fundraising having already been approximately 100% oversubscribed by that time.  The Company has therefore decided to increase the size of the Fundraising in order to meet this demand.  The Company will therefore issue and allot a total of 9,138,027 new ordinary shares ("New Ordinary Shares") to satisfy the Fundraising.  The gross proceeds of the Fundraising are £603,109.76.

Application will be made to the London Stock Exchange for the New Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 18 August 2017.

On completion of the Placing and following Admission of the Placing Shares, the enlarged issued share capital of Tern will be 129,368,704 Ordinary Shares of 0.02p each.  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 Guidance and Transparency Rules.

Al Sisto, Chief Executive Officer of Tern, commented:

 "We are gratified with the support we have received from both existing and private investors for this Fundraising.  We are particularly delighted with the positive support we have received from private investors through PrimaryBid and as a result, have the opportunity to increase the size of the Fundraising to satisfy that demand. "

"The funds raised will allow us to make a new investment in InVMA and add it to our portfolio of IoT focused companies upon successful completion of the Share Purchase Agreement (SPA). InVMA is an IoT enablement company, a sector we believe is accelerating as the use of IoT becomes more prevalent in the industrial and medical device markets. InVMA was itself born out of an industrial controls business and possesses a wealth of knowledge and technical skills essential to make the most of the IoT market."

Date of announcement of Interim results

Tern also confirms that it will announce the interim results for the six months to 30 June 2017 on 4 September 2017.

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 David Ison/Elise Palmer	Tel: [phone]
PrimaryBid Dave Mutton	Tel: [phone]

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Source: Tern Plc via Globenewswire