Tern – Won't/Can't fund Konektio Investment so is 75% diluted
By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 8 November 2023
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.
As predicted, AIM-listed jam-tomorrow investment company Tern plc (TERN) has failed to meet its investment requirements at investee-dog Konektio. The result is that 75% of its investment is to be converted to worthless deferred stock and it could get worse. In short, it is Ouzo-on-cornflakes this morning.
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.