LONDON (Alliance News) - Technology investing company Tern PLC on Friday said it has raised GBP1.1 million through a share placing to provide additional financing to its existing portfolio.
Tern issued 9.2 million shares at 12.0 pence per share to raise the funds. The company's shares closed at 13.5p on Thursday.
The funds will be used to funds its existing portfolio, particular its security software firm Cryptosoft Ltd.
Angus Forrest, Tern's chairman, took part in the placing, but 83,333 shares. Directors Al Sisto and Bruce Leith also bought the same number of shares in the placing.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Tern (TERN)