Member Info for Augustus_

I've been a holding doubter of Tern for some time but this update has, for once, fully reassured me.

Good evening

I've had a glimpse at the document regarding the EGM, not too enthusiastic about digesting an 80 page file right now though.

Are there any ramifications for the migration? I hold all my eqt in an ISA, so I don't foresee any issues for me. I noticed there will be changed to the articles of association but I haven't found what they are yet. Any opinions?

It's displayed in the other site

Yeah I can't see it either

Thanks, following

Aandi, you mentioned using Twitter; do you mind sharing your username please?

Obmuj. I believe the word you're looking for is evolution.

Renesas is a client of DA, that's on the Wyld website. I suppose that a DA connection is plausible but I'm not saying it definitely exists.

Very pleased with the news and price action today!

Unloading straight into a 300k buyer. Significant developments being made known?

Glad to hear it, eyesblue. Looks like we were right all along! 1.0551p to sell, unable to buy even £200

Who remembers eyesblue? And another poster with blue in their name? Wonder if they're still in.

Agreed, I see no indication that JLP's offtake has been cancelled. It will help GLR resist any mates rates prices being sought by JLP, should it occur. It's always best to have multiple sales channels.

Obviously I meant 11.5 as my break even

Antelope, I wholeheartedly agree that an asset sale will bring about a re-rate. The reason this is currently trading at a discount to NAV is that the BoD have failed to produce one in all the time they've been feeding their investees, coupled with an almost belligerent contempt for shareholders in their liberal issuance of shares to forward selling bucket shop financiers (never once producing a TR-1) and a point blank refusal to publicise the genuine and documented advancements of their investees. I do hold a reasonable sized chunk of Tern in my portfolio (by far the worst performer, the only underwater share in my portfolio surrounded by triple digit percentage profits) but in hindsight I should have cut out when I broke even around 1.5 or anywhere above and topped up or diversified my portfolio because the 100% consistent failure record here is evident to anyone.

Antelope, with all due respect you are acknowledging the business model of VC which only sees value on an asset sale but demanding an mcap to pre-emptively reflect unrealised value.

I imagine it was posted repeatedly on the other site until people assumed it had a basis in reality.

As Maarleck says, it was confirmed that there is no contractual 10% bonus for the BoD. The independent remuneration committee will evaluate the situation as and when. My interpretation was that a shareholder distribution would occur, but I don't believe it's at a set percentage of sale proceeds.

From portfolio update RNS...

Tern's management will be hosting an online presentation and Q&A session regarding the latest developments with the Company and its portfolio at 5.30 p.m. GMT on Monday 23 November 2020. This session is open to all existing and prospective shareholders. Those who wish to attend should email tern@investor-focus.co.uk and they will be provided with access details. Participants will have the opportunity to submit questions during the session, but questions are welcomed in advance and may be submitted to: tern@investor-focus.co.uk.

Thanks Stokey, your post this morning was most helpful to grasp the chain of events.