REG - Tern PLC - Results of Open Offer

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RNS Number : 5051D  Tern PLC  08 May 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND FOR
INFORMATION PURPOSES ONLY AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, AND DOES NOT CONSTITUTE AN OFFER
OF SECURITIES FOR SALE IN, INTO OR FROM THE UNITED STATES OF AMERICA,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION, DISTRIBUTION, OFFER OR SALE
WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY
SECURITIES IN TERN PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS
ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE
RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF TERN PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK
LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

8 May 2026

 

Tern plc

 

("Tern" or the "Company")

 

Results of Open Offer

 

Tern Plc (AIM:TERN), the Company focused on value creation from Internet of
Things ("IoT") technology businesses, announces the results of its Open Offer
to Qualifying Shareholders which was announced on 21 April 2026 and closed for
acceptances, in accordance with its terms, on 7 May 2026.

 

The Company announces that valid acceptances have been received from
Qualifying Shareholders for a total of 67,666,314 new Ordinary Shares (the
"Open Offer Shares") under the Open Offer, representing a take-up of
approximately 63% of the 107,268,195 Open Offer Shares available.

 

The Open Offer is conditional upon the passing of the Resolutions at a General
Meeting being held at 11.00 a.m. today, 8 May 2026, and Admission of the Open
Offer Shares to trading on AIM. Subject to the passing of the Resolutions, the
Open Offer will raise gross proceeds of approximately £406,000 for the
Company and it is expected that Admission will become effective and dealings
in the Open Offer Shares on AIM will commence on 11 May 2026.

 

A further announcement will be made following the conclusion of the General
Meeting.

 

Capitalised terms used but not otherwise defined in this announcement bear the
meanings ascribed to them in the circular posted to shareholders on 21 April
2026.

 

Director and PDMR participation in the Open Offer

 

The following Director and persons discharging managerial responsibilities
("PDMRs") of the Company have opted to participate in the Open Offer, and
conditional upon the passing of the Resolutions at the General Meeting and
Admission will subscribe for the Open Offer Shares as follows:

 

 Director   Number of Existing Ordinary Shares  Number of Open Offer Shares subscribed for  Number of Ordinary Shares to be held on Admission  % of the Enlarged Share Capital to be held on Admission
 Iain Ross  1,843,808                           263,401                                     2,107,209                                          0.26%

 

 PDMR          Number of Existing Ordinary Shares  Number of Open Offer Shares subscribed for  Number of Ordinary Shares to be held on Admission  % of the Enlarged Share Capital to be held on Admission
 Albert Sisto  21,126,096                          1,500,394                                   22,626,490                                         2.76%

 

 

Enquiries:

 

 Tern Plc                                           via IFC Advisory

 Jane McCracken (Interim Non-Executive Chair)

 Allenby Capital Limited                            Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 Alex Brearley / Ashur Joseph (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 IFC Advisory                                       Tel: 0203 934 6632

 (Financial PR and IR)

 Tim Metcalfe

 Graham Herring

 Florence Staton

 

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