Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things (“IoT”), notes the recent continuation of the rise in its share price and the Board confirms it knows of no reason for the price rise, save for the ongoing developments and collaborations previously announced.
As detailed in its portfolio announcement of 16 May 2018, the current aggregate balance sheet valuation of Tern’s investments is approximately £11 million. Following Tern’s most recent fundraising on 14 May 2018, which raised £700,000 at a price of 18.5 pence per share, and the subsequent investment in FundamentalVR and loan to Device Authority, the cash position of Tern as of 12 June 2018 is £1.49m.
Further announcements will be made as and when required in accordance with the AIM Rules.
