Tern PLC

  • ISIN: GB00BFPMV798
  • Land: Großbritannien

Nachricht vom 10.07.2018 | 08:00

Tern PLC: Additional Investment in InVMA

Tern PLC (TERN)

10-Jul-2018 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


10 July 2018

Tern Plc (AIM: TERN)

 

Additional Investment in InVMA

 

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that it has made an additional investment of £375,000 into InVMA Limited ("InVMA"), one of its existing portfolio companies.

 

In line with the announcement dated 25 September 2017 and as a result of InVMA having met certain sales milestones, Tern has completed its investment of £1 million in InVMA in order to maintain its 50% holding.

 

InVMA, which is a leading user and partner to ThingWorx, PTC's IOT platform and a key strategic partner for Tern's portfolio company Device Authority Limited, has had positive performance since Tern made its initial investment into the InVMAInVMA recently announced that it had entered into a new contract with ESAB Limited. Additionally, InVMA developed the ClarityTM platform on behalf of GCE Healthcare, which was launched to the market on 3 May 2018.

 

Bruce Leith, Business Development Director for Tern, said:

 

"We're delighted to announce our follow-on funding for InVMA. Having recently announced a new contract, we remain confident of InVMA's future prospects, and are pleased to continue to support the company and its management team."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

 

Enquiries

 

Tern Plc

Al Sisto/Sarah Payne

Via Redleaf Communications

 

WH Ireland

(NOMAD and joint broker)

Mike Coe/Ed Allsopp

 

Tel: 0117 945 3470

 

Whitman Howard

(Joint broker)

Nick Lovering/Francis North

 

Tel: 020 7659 1234

 

Redleaf Communications

Elisabeth Cowell/Fiona Norman

 

Tel: 020 3757 6880

 




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