Tern Plc : AGM Statement

Tern plc
("Tern" or "the Company")

AGM statement

At the Annual General Meeting ("AGM") to be held at 14.00 today the Chairman will read the following statement.

Tern Plc has started 2015 with each of its investments achieving significant milestones on its routemap to create value and eventual realisation; through promoting products with worldwide sales opportunity; signing strategic partnerships with major companies which increase market penetration, grow revenues and draw attention to the company and its potential to would be purchasers.  We take this opportunity to provide short updates on developments at two of the companies:

Cryptosoft signed a strategic partnership agreement with New York based wot.io(TM) so has agreements in place with distribution partners in the UK and North America and is set to build sales and revenues using the business model adopted following acquisition. 

Seal Software was named one of the winners in the Best in Biz Awards in the Fastest Growing Company of the Year (small) category.  The Award underscores a successful 2014 for Seal, with tripled revenues, substantial employee growth and significant expansion in Seal Software partner and customer implementations. 

At the end of February Tern had cash balances of £599,000. 

We look forward to providing further updates on our investments during the course of the year.

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 / Duncan Vasey
Redleaf Polhill	Tel. [phone] 4769
Charlie Geller

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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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