30th Mar 2015 11:26
LONDON (Alliance News) - AIM-listed investment company Tern PLC on Monday said it has agreed a deal to provide a further GBP400,000 to investee company Cryptosoft Ltd, an encryption services company.
The further investment will be made via a combination of a GBP10,000 subscription and a GBP390,000 loan facility, Tern said. It will be in addition to the GBP300,000 investment already announced in Cryptosoft.
"This facility will enable us to build the salesforce, improve our web presence, and extend our capabilities to exploit opportunities in the UK and North America and achieve our ambitious growth plans," said Cryptosoft Chief Technical Officer John Penney.
Shares in Tern were up 6.1% to 5.7 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Tern