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Pin to quick picksTern Share News (TERN)

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Share Price: 4.25
Bid: 4.10
Ask: 4.40
Change: -0.05 (-1.16%)
Spread: 0.30 (7.317%)
Open: 4.30
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TRADING UPDATES: Genflow wins new research grants; Seeen margin rises

Thu, 01st Feb 2024 14:27

(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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Genflow Biosciences PLC - London-based biotechnology company focused on longevity - Wins EUR 2.9 million in two new grants that it says will broaden its research pipeline and expand the size of its therapeutic markets over the next three years. Genflow will undertake key investigational new drug- enabling development activities to help define the pharmacological and toxicological properties of its lead drug candidate, GF-1002. Chief Executive Officer Eric Leire says: "The milestones we reached in 2023 were numerous, and I commend our team for their exceptional commitment to execution and delivery. While 2023 was a pivotal year, we're poised for an even stronger 2024, as we shift focus to scaling development of our lead drug candidate, GF-1002, and its potential benefits for NASH patients. With the support of our partners and the backing of new grants, we are poised to make meaningful advancements in the field of longevity."

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Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says two further new targets have been derived from a recent TerraleachTM soil geochemical survey on licences PL039/2018 and PL040/2018 located towards the south-eastern basin margin of the Kalahari copper belt in Botswana.

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Trinity Exploration & Production PLC - exploration and production company, focused on oil projects in Trinidad & Tobago - Sets sales guidance for 2024 of 2,600 to 2,700 barrels of oil per day, down from 2,790 barrels in 2023. This reflects low field declines resulting from a strong operational focus on maximising production uptime, Trinity explains. Says capex expected to be between USD7 million to USD8 million, in order to fund programme of recompletions. Chief Executive Officer Jeremy Bridglalsingh says: "2024 is an important year for Trinity as we look to build on our opportunities in the Buenos Ayres block and wider Miocene play using data gained from Jacobin, and also progress our planning for Galeota. Operationally we will be highly focused on offsetting natural production decline through a very active programme of workovers, recompletions and swabbing operations. With the benefit of recently enacted SPT reforms, we anticipate strong cashflow from our production base which will help support our future drilling plans. Operations continue across our portfolio, including at the Jacobin well and we will update the market in further detail in our next quarterly update."

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Tern PLC - London-based investor in early-stage 'internet of things' technology businesses - Says Talking Medicines Ltd has secured GBP440,000 through the issue of unsecure convertible loan notes, under a fundraising round. Tern holds 24% of the equity in Talking Medicines. Tern says it subscribed for GBP100,000 of CLNs in Talking Medicines, and will still hold the same equity stake in the firm.

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Seeen PLC - London-based social media services firm - Says gross margin for 2023 was over 20% compared to 15% in 2022. Expects adjusted Ebitda loss of USD600,000 in 2023, narrowed from USD800,000 the year prior. Looking ahead, Seeen says it is well positioned to take advantage of key market trends.

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By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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2 Dec 2022 10:43

Tern investee Device Authority wins five-year deployment contract

(Alliance News) - Tern PLC on Friday said its investee Device Authority Ltd secured a USD1.2 million contract for the expanded deployment of Device Authority's security platform.

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2 Dec 2022 10:40

AIM WINNERS & LOSERS: Orosur Mining drops on disappointing assays

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

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2 Dec 2022 09:51

Tern portfolio company secures new contract valued at more than $1.2m

(Sharecast News) - Internet-of-Things investor Tern said on Friday that one of its portfolio companies had secured a new contract win valued at over $1.2m.

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1 Dec 2022 15:45

UK earnings, trading statements calendar - next 7 days

Friday 2 December 
Industrials REIT LtdHalf Year Results
Mind Gym PLCHalf Year Results
Premier Miton Group PLCFull Year Results
Monday 5 December 
Fusion Antibodies PLCHalf Year Results
Induction Healthcare Group PLCHalf Year Results
Tharisa PLCFull Year Results
Tuesday 6 December 
Ashtead Group PLCHalf Year Results
Civitas Social Housing PLCHalf Year Results
Ferguson PLCQ1 Results
Gooch & Housego PLCFull Year Results
Iomart Group PLCHalf Year Results
Mercia Asset Management PLCHalf Year Results
Oxford Metrics PLCFull Year Results
Paragon Banking Group PLCFull Year Results
Schroder European Real Estate Investment Trust PLCFull Year Results
SSP Group PLCFull Year Results
Tritax EuroBox PLCHalf Year Results
Vianet Group PLCHalf Year Results
Victorian Plumbing Group PLCFull Year Results
Victrex PLCFull Year Results
Wednesday 7 December 
Baltic Classifieds Group PLCHalf Year Results
Finsbury Growth & Income Trust PLCFull Year Results
Ixico PLCFull Year Results
Mitchells & Butlers PLCFull Year Results
Moonpig Group PLCHalf Year Results
Monks Investment Trust PLCHalf Year Results
Naked Wines PLCHalf Year Results
Quiz PLCHalf Year Results
Redde Northgate PLCHalf Year Results
SDI Group PLCHalf Year Results
Thursday 8 December 
Balfour Beatty PLCTrading Statement
British American Tobacco PLCTrading Statement
DS Smith PLCHalf Year Results
DWF Group PLCHalf Year Results
Focusrite PLCFull Year Results
Frasers Group PLCHalf Year Results
Hipgnosis Songs Fund LtdHalf Year Results
On The Beach Group PLCFull Year Results
Purplebricks Group PLCHalf Year Results
Redcentric PLCHalf Year Results
S&U PLCTrading Statement
SDCL Energy Efficiency Income Trust PLCHalf Year Results
Seraphine Group PLCHalf Year Results
Tern PLCQ3 Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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30 Nov 2022 20:46

TRADING UPDATES: Scholium profit grows; Honye Financial loss narrows

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

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7 Nov 2022 13:57

IN BRIEF: Tern notes investee Wyld Networks' fundraise to speed growth

Tern PLC - investor focused on the internet of things - Says investee Wyld Networks AB has announced an equity fundraising of around SEK 7.3 million, or the equivalent of GBP580,000. Fundraise price is SEK12.03 per share. Says Wyld Networks' equity of 5.2 million shares will reduce from 49% to about 47% following the fundraise.

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28 Oct 2022 14:44

TRADING UPDATES: Nostrum profits of Brent price; Scottish ups dividend

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

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6 Oct 2022 15:06

Tern shares fall after fundraise to secure position in investee firms

(Alliance News) - Tern PLC on Thursday said it had completed the retail offer part of its fundraise as it seeks a strong negotiating position in its investee companies .

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5 Oct 2022 21:27

TRADING UPDATES: Braveheart Investment ups stake in Aukett Swanke

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

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23 Sep 2022 13:04

Tern assets under management decrease 'marginally'

(Sharecast News) - Technology investor Tern reported assets under management of £30.2m at the end of its first half on Friday - a "marginal decrease" from the £30.6m it recorded at the end of December.

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23 Sep 2022 10:12

Tern net asset value falls, half-year loss widens on global headwinds

(Alliance News) - Tern PLC on Friday said it was optimistic for the second half of 2022 as its net asset value fell and half-year loss widened in the first half on macroeconomic uncertainties.

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18 Aug 2022 11:25

IN BRIEF: Tern notes further FundamentalVR fundraise of USD20 million

Tern Plc - investor focused on the internet of things - Confirms that FVRVS Ltd - also known as FundamentalVR - has raised an additional USD20 million, which includes committed contingent funding yet to be received by FundamentalVR. Such funding will be at the same valuation as the FundamentalVR Series B second tranche and would not affect the book value of Tern's investment in FundamentalVR.

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11 Aug 2022 15:42

IN BRIEF: Tern notes FundamentalVR raises further GBP5 million

Tern Plc - investor focused on the internet of things - Says FVRVS Ltd - also known as FundamentalVR - closes a second tranche of its series B funding round, securing a further GBP5 million from a "new institutional investor". This comes after a GBP7 million fundraise at the end of May, with GBP1.2 million conversion of convertible loan notes. At that time, Tern converted GBP570,000 in loan notes, but did not participate in the second tranche. FundamentalVR has now raised GBP13.2 million total in the funding found.

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22 Jul 2022 14:36

Pires Investments notes portfolio firms' progress after takeover fail

(Alliance News) - London-based technology-focused investor Pires Investments PLC on Friday touted the progress of companies in its investment portfolio.

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22 Jul 2022 10:19

IN BRIEF: Pires takeover by Tern fails due to lack of necessary votes

Pires Investments PLC - London-based technology-focused investor - and Tern PLC - investor focused on the internet of things - On Thursday say that Pires held a court meeting and a general meeting in connection to its acquisition by Tern, which did not pass the voting threshold needed to approve the takeover.

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