#TERN – further “extension of loan facility”, now to 11th September 2026
- 2026-03-05 07:51:32
UK 08:44 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Today Tern (TERN) announced the results of its Open Offer and, I must concede, that even adjusting for how it fiddled the numbers, the take up is better than I expected. There is obviously no shortage of financial lemmings out there.
On Tuesday, AIM Casino howler Tern (TERN) is expected to announce the results of its Open Offer to raise up to £384,408 before expenses at 0.40p per share. With the shares at 0.4p to sell only the truly certifiable will take up that offer but then again that probably describes most of those on the shareholder list anyway.
Tom Winnifrith has already passed judgment on AIM-listed Tern plc (TERN) and itsproposed Open Offer to raise up to £384,408 (before costs) at 0.4p per share. His criticisms are excoriating and I completely agree. But for anyone still thinking it is a great investment – pounds not pence – there is an implicit warning which even the maddest loon must surely take note of.
As expected and foreshadowed by a recent ramptastic RNS about Device Authority, today Tern (TERN) launched an Open Offer to raise up to £384,408 at 0.4p a 20% discount to the previous day's closing price. This is merely a hiccup on the road to corporate death and it is now not a long road.
This is so transparent. Even Stevie Wonder can see what happens next.
Today Tern (TERN) issued yet another poor RNS and it now looks as if a gig with the Fat Lady is just weeks away.
Today Tern (TERN) has released detailed presentations from two of its portfolio investment companies namely Device Authority and Talking Medicines. For some reason Tern didn’t obtain a presentation for its second largest large portfolio investment namely FVRVS.
Today Tern (TERN) announced that it had “been issued with approximately £230,000 of new unsecured convertible loan notes by Talking Medicines Limited in return for Tern having agreed to cancel existing short-term loans aggregating to approximately £180,000 provided by Tern to Talking Medicines during 2024 and 2025.” Swings and roundabouts, smoke and mirrors
And so my supplies of Ouzo were heavily challenged with last week’s admission from AIM-listed basket case Tern plc (TERN) that it can’t fulfil its commitment to carry on investing in Sure Ventures. Well there’s a surprise….not! I said this was bonkers when first announced. Tern is now set to lose the one investment that has made money as there are default clauses – not that Tern’s beleaguered shareholders ever stood to make anything out of it as any profit would have been swallowed up by bloated Tern plc costs (you’ve gotta pay for talent….)
It appears that I have been guilty of assuming that Tern (TERN) would be able to realise its stake in the Sure Valley Fund of £0.8 million to help in its liquidity challenges. Today’s RNS extracts of which are reproduced below demonstrate that isn’t the case.
Today Tern (TERN) announced an extension of its Convertible Loan Notes to investee company Talking Medicines. It is a can kick but does not change the inevitable end game.
As I predicted, the Tern (TERN) open offer at 0.5p has flopped. I am amazed that anyone took it up given that the shares have traded below the offer price for most of the past two weeks but there are some born every day. Seeking to raise £642,246 I, in fact, raised just £151,136. Oh dear. Oh dear.
The open offer at 0.5p which is not underwritten closes on Tuesday and Tern (TERN) is desperate to pump the shares, currently 0.45p to sell, to get it away. What sort of Moron buys shares to sit on an instant 10% paper loss? Today the company tries a new spoof which it claims aligns the board with mug punters. That would be aligning head honcho Al Sisto who has taken out more than three Bernies since 2017 with investors who have lost almost all of their money. Whatever…
