Tern plc recommended all share offer for Pires Investments (VIDEO)

On 1 June 2022, it was announced that the Tern Directors and Pires Directors had reached agreement on the terms of a recommended all-share offer by Tern for the issued and to be issued share capital of Pires, to be effected by means of a court-sanctioned scheme of arrangement (the “Scheme”) between Pires and Pires Shareholders under Part 26 of the Companies Act 2006 (the “Acquisition”)(the “2.7 Announcement”).

On 28 June 2022, it was announced, inter alia, that the scheme document in relation to the Scheme (the “Scheme Document”) would be published and posted to Pires Shareholders (other than to Pires Shareholders in certain Restricted Jurisdictions) on that date.

Publication of DirectorsTalk interview on website

In accordance with Rule 20.3(b) of the Code, the Tern Directors announce that a DirectorsTalk interview video (the “Interview”) with Al Sisto, Chief Executive Officer of Tern, and Nick Lee, Director of Pires has been posted to the Company’s website, www.ternplc.com. The Interview provides information on the portfolios of each of Tern and Pires as well as the background to and reasons for the Acquisition.

Words and expressions defined in the 2.7 Announcement, the Scheme Document or the Tern Circular shall, unless the context provides otherwise, have the same meanings in this announcement.

Tern plc (LON:TERN) Chief Executive Al Sisto and Nick Lee a director of Pires Investments plc (LON:PIRI) join DirectorsTalk Interviews to discuss a recommended all share offer for Pires Investments.

Both Al and Nick provide a brief overview of their companies with an emphasis on company holding portfolios, the reasons why they and the board believes that combining the two businesses have compelling strategic rationale and the next steps in the transaction and what the shareholders of the respective companies should expect to see.

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