Director's Dealing • Jan 15, 2018
Director's Dealing
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National Storage Mechanism | Additional information
15 January 2018
Tern Plc (the "Company")
Director/PDMR Dealing
Tern Plc (AIM:TERN), the investment company specialising in the IoT ("Internet of Things"), announces it has been informed of the following share purchases of, and transactions in, the ordinary shares of the Company ("Ordinary Shares") by certain directors.
Ian Ritchie, Chairman, via his SIPP, purchased 577,000 ordinary shares at an average price of 3.65 pence per Ordinary Share.
Albert Sisto, CEO, purchased 400,000 shares at 2.8438 pence per share.
Additionally, Bruce Leith, Business Development Director, acquired Al Sisto's remaining convertible loan stock totalling £36,250, and subsequently converted the loan stock into 2,900,000 new Ordinary Shares at a conversion price of 1.25 pence per share. Following this transaction, the Board no longer holds any convertible loan notes in the Company.
Following the above transactions, Albert Sisto is interested in 9,583,333 Ordinary Shares representing 5.9 per cent. of the Company's issued share capital. Bruce Leith is interested in 8,857,233 Ordinary Shares representing 5.5 per cent. of the Company's issued share capital and Ian Ritchie is interested in 577,000 Ordinary Shares representing 0.4 per cent. of the Company's issued share capital.
Application will be made for the 2,900,000 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 18 January 2018 ("Admission").
Following Admission the enlarged issued share capital will be 161,901,140 Ordinary Shares of 0.02 pence 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, Guidance and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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
Ian Ritchie
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
2138005F87SODHL9CQ36
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
Purchase of shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 3.295 pence 3.44 pence 3.39 pence |
250,000 250,000 77,000 |
d)
Aggregated information
- Aggregated volume
- Price
577,000
£ 19,447.80
e)
Date(s) of the transaction
10 January 2018
f)
Place of the transaction
London Stock Exchange, AIM
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
2138005F87SODHL9CQ36
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
Purchase of shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 2.8438 pence | 400,000 |
d)
Aggregated information
- Aggregated volume
- Price
400,000
£11,375.20
e)
Date(s) of the transaction
12 January 2018
f)
Place of the transaction
London Stock Exchange, AIM
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Bruce Leith
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
2138005F87SODHL9CQ36
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 | 2,900,000 |
d)
Aggregated information
- Aggregated volume
- Price
2,900,000
£36,250.00
e)
Date(s) of the transaction
11 January 2018
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 Elisabeth Cowell/Fiona Norman/Alina Haritonova |
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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