TERN PLC

Share Issue/Capital Change • May 3, 2024

National Storage Mechanism | Additional information

RNS Number : 1557N

Tern PLC

03 May 2024

3 May 2024

Tern Plc

("Tern" or the "Company")

Further re. Wyld Networks Warrant Exercise Process

Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that, following the Company's announcement on 25 April 2024, Wyld Networks AB ("Wyld Networks") has announced that the subscription period for its TO4 warrants has completed. 

Approximately 91% of Wyld Networks' outstanding TO4 Warrants were exercised, providing approximately SEK6.4 million (approximately £0.5 million) before costs, to Wyld Networks.

As previously announced, Tern has exercised 245,699 TO4 warrants to subscribe for 245,699 shares in Wyld Networks at SEK 1.83 per share , for a total cost of SEK 449,629 (approximately £33,400).

Prior to the completion of the TO4 warrant exercise, Tern held 22.5%* of Wyld Networks' issued share capital.  Following Tern's exercise of TO4 warrants, Tern holds a total of 4,106,666* shares in Wyld Networks, which represents approximately 19.9%* of Wyld Networks' enlarged issued share capital.

* Pursuant to Tern's funding facility announced on 12 June 2023, under which £307,692 is currently drawn down, Tern is required to maintain in escrow shares in Wyld at a value of not less than 1.5 times the value of outstanding amounts drawn down and accrued interest, as security for the Facility.

Enquiries

Tern Plc Ian Ritchie (Chairman)	via IFC Advisory
Allenby Capital Limited (Nominated Adviser and Broker) Alex Brearley / Dan Dearden-Williams (Corporate Finance) Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)	Tel: 0203 328 5656
IFC Advisory (Financial PR and IR) Tim Metcalfe / Florence Chandler	Tel: 0203 934 6630

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