TERN PLC

Management Reports • Sep 6, 2017

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6 September 2017

Tern Plc (AIM: TERN)

Appointment of Investment Director

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things (IoT), is delighted to announce the appointment of Richard Turner as an Investment Director responsible for portfolio expansion and development with effect from 5 September 2017.

Bringing nearly two decades of global technology leadership expertise and extensive security industry knowledge, Richard possesses a strong track record of business development and transformation with an emphasis on revenue growth, distribution strategy development and deployment, and geographic market entry and expansion. Richard has been recognized as an industry leader and has received several awards including "Highly Commended" status in the 2011 SC Magazine CEO of the Year category.

Turner's previous roles include President of EMEA at FireEye, Inc., the intelligence-led security company. Under his leadership, FireEye's EMEA organisation delivered high levels of revenue growth, largely achieved through significant increases in the size and volume of enterprise transations. Richard also spent four and a half years as Chief Executive of Clearswift Ltd, one of the largest Security Software firms in the UK, where under his leadership the company delivered four consecutive years of profit growth, strong recurring revenues and high rates of customer retention. Richard led the sale of Clearswift to Lyceum Capital in December 2011.

Previously, he also enjoyed a highly successful career spanning almost 12 year at RSA, the Security Division of EMC, where his roles included Vice President EMEA, Vice President EMEA and Asia Pacific, Vice President Worldwide Channels and Vice President Asia Pacific.

Al Sisto, CEO of Tern Plc, said: "Richard's recent and extensive operational experience makes him a valuable addition to the team at Tern and an excellent resource for our portfolio companies to leverage. He has served as a board level executive for close to a decade and brings truly global market knowledge having lived and worked in Europe, Asia, the Pacific region and the United States. We welcome him to the board and look forward to him adding to and strengthening our portfolio companies."

Richard Turner, incoming Investment Director, commented: "I am thrilled to be joining the Tern team at such an exciting time. Having worked in both corporate and investee companies, now is the right time to take the next logical step in my career and join the investment community. Tern's focus on the Cloud and IoT are well aligned with my industry knowledge and I believe my operational experience will be of great value to our existing and future portfolio."

The following details in relation to the appointment of Mr Turner, aged 48 are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships	Past directorships held within the last five years
None	Miracl Limited
	The Turner Project Limited

There are no other disclosures required under clause (g) Schedule Two of the AIM Rules in relation to the above appointment.

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

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*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*