# Tern Plc CEO Albert Sisto increases interest in company

- Link: https://www.directorstalkinterviews.com/tern-plc-ceo-albert-sisto-increases-interest-in-company/4121078995
- Published: 2022-08-24T07:14:08+01:00
- Author: Giles

**[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 (“IoT”) technology businesses,
announced today that on the 23rd August 2022, the Company entered into a direct 
subscription with Albert Sisto, Chief Executive Officer, via the Albert E Sisto 
Revocable Trust, for a total of 200,000 new Ordinary Shares of 0.02p pence each 
at an issue price of 9.9p pence per share.

The Subscription has been undertaken by the Company to allow Mr. Sisto to increase
his interest in the Company, which is otherwise difficult for Mr. Sisto to do, due
to his primary residency and tax status in the United States of America. The Issue
Price is equal to the closing mid-market price of the Company’s Ordinary Shares 
on AIM on the business day prior to this announcement.

Albert Sisto’s total beneficial interest following this transaction will be 10,616,666
Ordinary Shares, representing approximately 3.01% of the voting rights in the Company’s
enlarged share capital following the issue of the Subscription Shares. The FCA notification,
made in accordance with the requirements of the UK Market Abuse Regulation, is appended
below.

Application has been made for the 200,000 Subscription Shares to be admitted to 
trading on AIM, which is expected to take place on or around 30th August 2022. Once
issued, the Subscription Shares will rank _pari passu_ in all respects with the 
existing Ordinary Shares of the Company.

**Total Voting Rights**

Following Admission, the Tern plc issued ordinary share capital will consist of 
352,214,701 Ordinary Shares, all of which carry one voting right per share. The 
Company does not hold any Ordinary Shares in treasury. Therefore, the total number
of Ordinary Shares and voting rights in the Company will be 352,214,701. With effect
from Admission, this figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance
and Transparency Rules.

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