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Tern Raises GBP285,000 For Cryptosoft Acquisition
LONDON (Alliance News) - Tern PLC Wednesday said it has raised GBP200,000 through the issue of convertible loan stock to some directors, and another GBP85,000 via a share placing, money it will use to complete the working capital investment into Cryptosoft Ltd, the security software company Tern acquired on Monday.
Tern is investing GBP300,000 in Cryposoft to provide working capital and allow the firm to accelerate growth.
Tern shares were down 1.6% to 1.845 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
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