UK 06:50 Monday, 21 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Today we have news that Tern (TERN) chairman Ian Ritchie has suffered enough and will walk the plank after the AGM. And the company has been forced to beg shareholders to support AGM votes to allow it to issue more shares, warning that if they do not then it may have to fire sale assets. That would clearly decimate the illusory stated NAV per share but so too will yet more share issuances. Tern shareholders have voted down such measures in the past they may well do so again having reached the point where they have just lost so much they care more about saying "fuck you" to the useless board than about their remaining investment.
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