Tern Plc : Advance of funds

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

Advance of funds

Tern Plc (Tern), the investment company specialising in the cloud and mobile sectors, is pleased to announce that Al Sisto, a director has advanced £100,000 to the Company prior to converting it into new equity.

The advancement is provided interest free, for a term of 366 days and will be convertible at the same price as that of the next equity capital fund raising.

Related party transaction

The loan by Mr Sisto to the Company is a related party transaction as defined in the AIM Rules for Companies. Having consulted the Company's nominated adviser, the independent directors of the Company consider the terms of the loan to be fair and reasonable insofar as the Company's shareholders are concerned.

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 acquires 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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