Statement regarding Silicon Valley Bank

RNS Number : 6671S

Tern PLC

13 March 2023

 

13 March 2023

Tern Plc

("Tern" or the "Company")

Statement regarding Silicon Valley Bank

Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, provides the following statement regarding Silicon Valley Bank and Silicon Valley Bank UK Limited (together "SVB").

Tern confirms that the Company has no banking relationship, or other financing arrangements, with SVB.

While Tern continues to monitor the SVB situation and its effect on Tern's portfolio companies, the Directors of Tern do not currently believe that any of the portfolio companies' exposure to SVB will have a significant impact on the net asset value of Tern.

Further announcements will be made, as necessary and appropriate, in due course.

Enquiries

Tern Plc Al Sisto (CEO) Sarah Payne (CFO)	via IFC Advisory
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley / Dan Dearden-Williams (Corporate Finance) 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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