# Tern Plc announces 63% take-up of Open Offer

- Link: https://www.directorstalkinterviews.com/tern-plc-announces-63-take-up-of-open-offer/4121250848
- Published: 2026-05-08T07:04:12+01:00
- Author: Amilia Stone

**[Tern Plc](https://www.directorstalkinterviews.com/company/tern-plc/tern.l)** (
[LON:TERN](https://www.directorstalkinterviews.com/company/tern-plc/tern.l)), the
Company focused on value creation from Internet of Things technology businesses,
has announced the results of its Open Offer to Qualifying Shareholders which was
announced on 21 April 2026 and closed for acceptances, in accordance with its terms,
on 7 May 2026.

The Company announces that valid acceptances have been received from Qualifying 
Shareholders for a total of 67,666,314 new Ordinary Shares under the Open Offer,
representing a take-up of approximately 63% of the 107,268,195 Open Offer Shares
available.

The Open Offer is conditional upon the passing of the Resolutions at a General Meeting
being held at 11.00 a.m. today, 8 May 2026, and Admission of the Open Offer Shares
to trading on AIM. Subject to the passing of the Resolutions, the Open Offer will
raise gross proceeds of approximately £406,000 for the Company and it is expected
that Admission will become effective and dealings in the Open Offer Shares on AIM
will commence on 11 May 2026.

A further announcement will be made following the conclusion of the General Meeting.

_Capitalised terms used but not otherwise defined in this announcement bear the 
meanings ascribed to them in the circular posted to shareholders on_ _21 April 2026__._

**Director and PDMR participation in the Open Offer**

The following Director and persons discharging managerial responsibilities (“**PDMRs**“)
of the Company have opted to participate in the Open Offer, and conditional upon
the passing of the Resolutions at the General Meeting and Admission will subscribe
for the Open Offer Shares as follows:

| **_Director_** | **_Number of Existing Ordinary Shares_** | **_Number of Open Offer Shares subscribed for_** | **_Number of Ordinary Shares to be held on Admission_** | **_% of the Enlarged Share Capital to be held on Admission_** | 
| Iain Ross | 1,843,808 | 263,401 | 2,107,209 | 0.26% |

| **_PDMR_** | **_Number of Existing Ordinary Shares_** | **_Number of Open Offer Shares subscribed for_** | **_Number of Ordinary Shares to be held on Admission_** | **_% of the Enlarged Share Capital to be held on Admission_** | 
| Albert Sisto | 21,126,096 | 1,500,394 | 22,626,490 | 2.76% |

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