Investor call10 Nov 2020 18:31
On the 23rd with question (below) submitted:
“As it is becoming apparent with how the share price reacts to what can only be described as brilliant developments within the portfolio, the market is constantly concerned that there may be a discount placing.
As long standing shareholders of the company, some of which was done at prices over 3/4 times the current level.
Can you please confirm that the company will not dilute shareholders at under 10p again ?
Although much of any dilution is used for growth purposes, I (and many others) think it rather prudent, given the destruction of shareholder value, to stop dilution & thus any further investment, until the portfolio has on part fulfilled some of its mission objective of increasing value.
TERN is clearly at a huge turning point in what has been a troubling business year with new market opportunities opening up for the portfolio companies, hoewever, for as long as the option / possibility remains for the company to dilute shareholders at such a low share price & discount to portfolio value, investors feel very wary.
Dilution at a far higher share price has to surely be one of the most important factors to take on board given current developments?”