21st Apr 2026 11:29
Tern PLC - London-based 'internet-of-things' focused investor - Announces open offer of shares to raise up to GBP643,609. The offer will be on the basis of one new share for each seven existing shares held. Tern will issue up to 107.3 million new shares. The price of 0.60 pence per share is set at a 20% discount to Tern's closing price on Monday. The offer is conditional on a vote of shareholders at a general meeting Tern calls for May 8. No reason for the equity raise is provided in Tern's stock exchange announcement, but it says a circular will be send to shareholders later Tuesday providing the reasons and further details of the offer. Tern in February made an open offer to raise up to GBP384,408. This was to support a raise by Device Authority Ltd, one of Tern's portfolio holdings.
Current stock price: 0.65p for GBP4.9 million market capitalisation
12-month change: down 38%
By Tom Waite, Alliance News editor
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