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Tern PLC (TERN)

ORD 0.02P
Sell: 1.30p|Buy: 1.40p|Change: 0.03 (1.85%)

This share can be held in a Dealing accountStocks and shares ISALifetime ISAJISASIPPand can be used with Dividend reinvestment

IN BRIEF: Tern makes GBP175,000 investment in Sure Ventures

Tern PLC - London-based 'internet of things' technology investor - Says it has invested GBP175,000 into Sure Ventures PLC shares, to be issued as part of a Sure Venture placing for up to around GBP275,000. Tern will acquire 213,414 shares in the venture capital fund specialising in early-stage software companies at 82 pence each, in line with the mid-market closing price of Sure Ventures' shares on December 31. Tern will hold around a 2.7% stake in Sure Ventures after shares have been admitted to the London Stock Exchange on January 8.

Sure Ventures reported an interim pretax loss of GBP181,746 for the six months that ended September 30. It holds a 25.9% interest in Sure Valley Venture Funds and around a 6% holding in Sure Valley Enterprise Capital Fund, for which Tern already held a 5.9% direct interest.

Current stock price: 1.35p, down 3.5% in London on Friday morning

12-month change: down 58%

By Emily Parsons, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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