#TERN – desperate “remuneration reductions & distribution commitment”

Tern in a doom loop: needs to clarify via RNS what happens when (not if) open offer flop

This is now a doom loop. The more the share price falls the more likely it is that Tern’s (TERN) open offer, which is not underwritten, will flop which makes it more likely that the company will go bust before Christmas which makes folks panic so the shares go down etc, etc. Nomad Allenby, of Nightcap infamy, needs to be issuing an RNS as the shares are now just 0.4p to sell.

You Tern if you want to this bear is not for Terning as yet another bailout announced

With homage to the greatest leader Britain has ever had, I remind you that in May 2021 shares in Tern (TERN) reached 30p and Lucian Miers and myself, who had stood on the Streets outside St Paul’s at the funeral of that great leader, received all sorts of abuse for calling it out as a joke. The shares are today just 0.5p mid making an open offer announced today at 0.5p far from certain to succeed.

#TERN – “up to” £0.642m open offer at 0.5p per share

Tern – dire Talking Medicines accounts out, a reminder of why Tern’s board should be in jail

On 15 September 2025 Tern (TERN) announced that it had extended its loan facility had extended its repayment date from 30 September 2025 to 5 March 2026. It stated that “approximately £150,000 remains outstanding under the Loan and this amount plus accrued interest at a rate of 1.00% per calendar month”. An interest rate of 1% per month isn’t exactly cheap and just adds to the drag on Tern’s investment performance.

#TERN – “Extension of Loan Facility Term” to March of “approximately £150,000” loan

Tern – Interims: Smoke, Mirrors, Shambles

AIM-listed jam-tomorrow POS Tern plc (TERN) announced its interim results to June 30th this morning. The news is not good, and was accompanied by smoke and mirrors. Anyone still thinking pounds not pence is in la-la land.

#TERN – H1 another loss, even gross cash down to below £100,000

#TERN – “appointment of shareholder relations adviser”, attempted ramptastic

Tern – Circling The Plughole

I have always been an out-and-out bear of AIM-listed jam-tomorrow POS Tern plc (TERN). With the shares trading at an all-time low of 0.725p compared to a high point of some 60p I feel vindicated – where’s my Ouzo? But the latest price action should be ringing loud alarm warning bells for even the most ardent bull.

Tern – open offer flop

Yesterday Tern (TERN) announced the results of its Open Offer:

#TERN – just 43% take-up of £0.64m open offer, remainder to be subscribed for by CMC Markets as underwriter

Tern – Short-Term CEO Loan: Just How Bad Are The Finances?

AIM-listed POS Tern plc (TERN) announced this morning that it has had to borrow c. £45,000 from its CEO Al Sisto. It also admitted that its cash balance as at the end of June had dwindled to just £70,000 – in other words it has been running on fumes. The loan (and c. 12% APR interest) is to be repaid from the proceeds of the underwriten Open Offer currently on the table but this all raises the question over how long it will be before Tern has to return for yet more wonga to blow.

#TERN – “Receipt of Bridging Loan”… of just “approximately £45,000”

Tern – another dilutive fund raise gives further disturbing insight into how Tern value its stakes in Talking Medicines and FRVRS

Since its year results to 31 December 2024, Tern (TERN) has raised £1.2 million before expenses as shown below:

#TERN – bailout £642,486 open offer at 1p per share

Lessons Of Listing As Tern Faces Yet More Embarrassment

It won’t make any difference to shareholders on AIM-listed jam-tomorrow Tern plc (TERN) as its original investment is now worth buttons, but last week saw its once much-hyped investee Wyld Networks, on the joke Nasdaq-of-the-North exchange in Stockholm, announce yet another bailout rights offer at just SEK 0.01 per share. To think, this was once worth SEK 11.73 per share, back in 2021 – a stonking 99.9% loss!

Tern – Cash Surely Running Out As Brick Wall Approaches At Speed!

The AIM-listed disaster in the waiting, Tern plc (TERN), has a few problems. Of course, ShareProphets readers will know all too well from our coverage that the fundamental problem is that it has invested in a bag of nails, unlisted and cash-guzzling, when Tern has no cash. But the AGM on 30th June saw shareholders again reject permission for share issuances with disapplied pre-emption rights, blocking off the only realistic road to raising a large amount of cash.

Tern - a few further observations, as chairman walks the plank and board begs shareholders to allow more dilution

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.

#TERN – Chairman Ian Ritchie “has decided to retire from the board at the conclusion of the AGM”