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Tern Plc (TERN)

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Tuesday 03 October, 2017

Tern Plc

Tern Plc : Director/PDMR Shareholding

Tern Plc : Director/PDMR Shareholding

3 October 2017
Tern Plc
(AIM: TERN)

Director/PDMR Dealing

Tern Plc (AIM:TERN), the investment company specialising in the IoT ("Internet of Things"), is pleased to announce that Albert Sisto, Chief Executive Officer, is converting a total of £36,500 convertible loan stock into 2,920,000 new ordinary shares at 1.25 pence per share.  Following the conversion, Albert Sisto is interested in 9,183,333 ordinary shares representing 6.9 per cent. of the Company's issued share capital.

Application has been made for the 2,920,000 new ordinary shares to be admitted to AIM and it is expected that admission will take place and trading in the new ordinary shares will commence on 6 October 2017 ("Admission").

Following Admission the enlarged issued share capital will be 132,486,855 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 and Transparency Rules.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name
Albert Sisto
2

Reason for the notification

a)

Position/status
Director
b)

Initial notification /Amendment

Initial notification
3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name
Tern Plc
b)

LEI
-
4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.02 pence in Tern Plc

GB00BFPMV798
b)

Nature of the transaction

Conversion of unsecured loanstock
c)

Price(s) and volume(s)

Price(s)

 
Volume(s)
1.25 pence 2,920,000

d)

Aggregated information

- Aggregated volume

- Price

2,920,000

£36,500.00

e)

Date(s) of the transaction

2 October 2017
f)

Place of the transaction

London Stock Exchange, AIM

Enquiries: 

Tern Plc
Al Sisto/Sarah Payne
via Redleaf
 

WH Ireland
(NOMAD and joint broker)
Mike Coe/Ed Allsopp
 

Tel: 0117 945 3470
 

Whitman Howard
(Joint broker)
Nick Lovering/Francis North
 

Tel: 020 7659 1234
 

Redleaf Communications
David Ison/Elisabeth Cowell
 

Tel: 020 7382 4730



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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