AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has announced a recommended all-share deal to take over AM-listed Pires Investments (PIRI). The fanfare numbers are that Pires investors are getting a 54% premium to the previous closing price, with Tern’s shares priced at 15.5p, but that seems to me to be a spoof. One wonders why Pires' board took the deal…..
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has announced a fundraise by investee FVRVS at a 77% premium to the previous book value of Tern’s holding. Well done Tern…..well sort of, because Tern put in no new cash, which raises an awkward question.
I’ve been taking a look through the annual report from Wyld, AIM-listed Tern’s second largest investment, for calendar 2021. Needless to say, there was no announcement form Tern over this…..
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) today provided an update in the form of its AGM statement. As ever, it is full of hyperbole but offers few hard numbers. The ShareProphets RNS Translation Service explains all…..
OK, we got it wrong over AIM-listed Tern (TERN) and the cost of converting its first round of warrants in Wyld with regard to needing an urgent placing. But the maths still suggests an imminent placing is needed to keep the lights on so whilst we have goofed on the specifics the general point was correct.
AIM-listed jam tomorrow IoT investment company Tern plc (TERN) badly needs to get a fundraise away as the closing date for cashing in its first round of warrants at Wyld, listed on the Nasdaq First North joke market in Stockholm approaches. I reckon it has got at best a couple of weeks and probably only one week before disaster strikes. The only question for me is whether the disaster will be the collapse of Wyld or just a massively discounted bucket shop placing-induced collapse in Tern’s share price.
Today Tern (TERN) published its results for the year ended 31 December 2021 and they showed a profit before tax of £4,578,321 which was a good result. Net asset value increased by 26% per share from 7.3 pence to 9.2 pence per share. Again good. But how does Tern manage to increase its NAV?
