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Pin to quick picksTern Share News (TERN)

Share Price Information for Tern (TERN)

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Share Price: 4.25
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Change: -0.05 (-1.16%)
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Open: 4.30
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TRADING UPDATES: DX opens new depots; Tern hails new order for Wyld

Mon, 13th Mar 2023 21:02

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Dekel Agri-Vision PLC - West Africa-focused agriculture company, with portfolio of projects in the Ivory Coast at various stages of development - Reports fresh fruit bunch volumes processed in February fall 31% to 9,418 tonnes from 13,683 tonnes a year prior. Crude palm oil sales reduce 43% to 2,102 tonnes from 3,660 tonnes. CPO production falls by 28% to 2,198 tonnes from 3,057 tonnes. However looking ahead, company says that fresh fruit bunches have "improved materially over the past 2 weeks". It adds that CPO prices remain close to record levels of EUR984 per tonne.

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DX Group PLC - Slough, England-based logistics company - Opens two new depots in Berkshire and Wiltshire, which DX says will serve its Express division, particularly Parcels operations. Explains that the new site openings are part of its ongoing GBP20 million to GBP25 million investment programme planned, with the sites planned to open during the current financial year ending July 1. Chief Executive Officer Paul Ibbetson says: "Our parcels activity has grown significantly in the last two years, and these new depots will increase capacity, improve efficiency and enhance the division's customer service levels."

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Molecular Energies PLC - Argentina and US-focused oil and gas production company, with additional exploration assets in both Argentina and Paraguay - Notes Argentinian subsidiary President Petroleum SA posts annual pretax profit of over USD19 million for 2022. Meanwhile, Molecular's exploration well in Paraguay remains on track to spud in May.

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Neometals Ltd - minerals and materials project development company - Pretax loss in the first half of financial year 2023 to December 31 balloons to AUD13.7 million from AUD3.5 million a year prior. Basic interim loss per share widens to 2.34 Australian cents from 0.52 cents a year ago.

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Symphony Environmental Technologies PLC - Hertfordshire-based developer of sustainable plastics and rubber - Expects 2022 revenue at GBP6.2 million, downgraded from its previous expectation of GBP6.5 million. Meanwhile, receives a GBP1 million loan from Sea Pearl Ventures Ltd. Company adds that the hearing date at the general court of the EU in Luxembourg has been set for next week Monday. The hearing is in regards to Symphony's case over the EU's single use plastics directive. In December 2020, Symphony said that it "has been advised by three barristers, all experts in EU law, that this part of the directive is confusing and illegal". The legal action is for financial damages against the Commission, Parliament and Council of the EU, Symphony explains.

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Tern PLC - Investor focused on the internet of things - Receives SEK9.2 million order, about GBP700,000, from a South African company for the Wyld Data service, of which it holds 40% equity. The customer is a company focused on deploying soil moisture sensors to optimise irrigation and automate scheduling systems for agriculture. Further, Tern notes it has no exposure to or relationship with Silicon Valley Bank or SVB UK. It adds that it does not expect the exposure of portfolio companies to SVB to have a significant impact on its net asset value.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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3 May 2024 13:39

IN BRIEF: Tern subscription period for Wyld TO4 warrants completes

Tern PLC - London-based investor focused on internet-of-things technology companies - Says the subscription period for its TO4 warrants has completed. Around 91% of the outstanding TO4 warrants were exercised, providing SEK6.4 million, GBP500,000, to Wyld Network AB. As previously announced, Tern has exercised 245,699 TO4 warrants to subscribe for 245,699 shares in Wyld Networks at SEK1.83 per share for a total cost of around GBP33,400. Following Tern's exercise of the warrants, the company holds 4.1 million shares in Wyld Networks, representing around 20% of its issued share capital.

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12 Apr 2024 14:16

Tern raises £0.42m to invest in Wyld Networks

(Sharecast News) - Specialist internet-of-things technology investor Tern announced on Friday that it hs raised £0.42m before expenses, to invest in Wyld Networks.

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12 Apr 2024 10:04

AIM WINNERS & LOSERS: Bens Creek falls as it lays off workers

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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12 Apr 2024 09:43

IN BRIEF: Tern down after raising GBP420,000 via discounted placing

Tern PLC - London-based 'internet of things' technology investor - Raises GBP420,000 via placing 17.5 million shares at 2.4 pence each. The placing price represents a 31% discount to the company's closing price of 3.48p on Thursday. Tern will use the funds to invest in Wyld Networks AB and to invest in at least one more investee, as well as for general corporate purposes.

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9 Apr 2024 10:38

Tern investee reports "substantial interest" from industry leaders

(Alliance News) - Tern PLC on Tuesday announced that one of its investee company's had a strong start to the year.

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9 Apr 2024 10:32

Tern's Talking Medicines makes 'strong start' to FY24

(Sharecast News) - Internet of Things investor Tern said on Tuesday that Talking Medicines, in which it currently holds a 23.8% equity share, has made "a strong start to 2024", marked by record revenue bookings and significant advancements in its Talking Medicines Drug-GPT platform.

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9 Apr 2024 09:30

AIM WINNERS & LOSERS: Tern rises on Talking Medicines quarterly update

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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8 Mar 2024 20:03

TRADING UPDATES: Cindrigo seeks Croatian exploration licence extension

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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7 Feb 2024 13:23

Tern's Device Authority raises an extra $2m

(Sharecast News) - Early-stage technology investor Tern announced the completion of an additional second closing of tranche one series B funding by Device Authority on Wednesday, in which it held a 35.7% shareholding.

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7 Feb 2024 11:28

IN BRIEF: Tern announces additional fundraise for Device Authority

Tern PLC - London-based investor in early-stage 'internet of things' technology businesses - Announces completion of a USD2.0 million equity investment in Device Authority Ltd by Mercato Partners, a Utah-based private equity firm. Device Authority is a California-based provider of identity and access management solutions for the internet of things in which Tern now holds a 32% stake, changed from 36% prior to this update. The USD2.0 million equity adds to an originally planned USD7.3 million fundraising announced by in December. Per the December announcement, Device Authority would receive USD7.0 million from Ten Eleven Ventures in new equity investment, and USD300,000 from Alsop Louie Capital 3 LP via conversion of short term loans. The fundraise is intended to provide Device Authority with "sufficient funding to enable it to grow in line with its strategy beyond the end of 2024", Tern says.

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1 Feb 2024 14:27

TRADING UPDATES: Genflow wins new research grants; Seeen margin rises

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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24 Jan 2024 10:54

Tern raises GBP400,000 to invest in portfolio companies

(Alliance News) - Tern PLC on Wednesday said it has raised GBP400,000 through a placing of shares.

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28 Dec 2023 11:16

IN BRIEF: Tern completes first tranche of Device Authority fundraise

Tern PLC - London-based investor in early-stage 'internet of things' technology businesses - Completes tranche one of its Device Authority Ltd fundraise. Through tranche one, Device Authority has received USD4.0 million. Says a further announcement will be made after it has completed its second tranche, totalling USD3.3 million. Trance two is dependent on approval under the National Security & Investment Act.

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27 Dec 2023 12:56

Tern investee Device Authority raising up to $7m

(Sharecast News) - Technology investor Tern announced on Wednesday that Device Authority, in which it held a 53.8% shareholding as of 21 November, has secured a series B fundraising round to raise up to $7m in new equity investment.

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27 Dec 2023 10:45

Tern plunges as Device Authority announces USD7.3 million fundraising

(Alliance News) - Tern PLC said on Wednesday that Device Authority Ltd is aiming to raise up to USD7.3 million.

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