Statement re Warrants, related party Transactio...

Tern Plc
(the "Company" or "Tern")

Notice of announcement of Final Results and Related party transaction

Tern is pleased to confirm that it will announce the final results of the Company for the period ended 31 December 2014 at 07.00 tomorrow.

Tern announces that the time for repayment of the £30,000 unconverted element of the £200,000 Convertible Loan Notes issued on 16 August 2013, which was due for repayment by the Company on 1 January 2015 if not previously converted at 2.016p per share has, by agreement between the parties, been extended to 1 January 2016.

As the owners of the Convertible Loan Notes are Angus Forrest, Chairman and Michael Clark, executive director, the transaction is classified under the AIM rules as between related parties. The directors (apart from Angus Forrest and Michael Clark) have consulted with WH Ireland and concluded that the extension of the period under which the outstanding balance is required to be repaid unless previously converted is fair and reasonable insofar as the interests of the shareholders are concerned.

Also Tern wishes to clarify that, in addition to the  1,233,589 warrants which were granted as part of the Placing announced on 25 November 2014, and remain outstanding, as notified on 7 January 2015, the Company had granted a further 396,302 warrants to subscribe for new ordinary shares in two equal tranches at 2p and 4p per new ordinary share respectively, to Jon Penney in connection with the acquisition of Cryptosoft, as announced on 15 September 2014 and which also remain outstanding.

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
Redleaf Polhill	Tel. [phone]
Charlie Geller

About Tern:

Tern Plc aacquires 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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