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Tern Plc – net asset value growth more than 80% down to serial mugging of its own investors

By Tom Winnifrith, the Sheriff of AIM | Thursday 17 March 2022

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 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?

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