RE: US Tech Stocks ralling recently - great for TERNs portfolio28 Apr 2023 19:26
Not ideal if you have to clutch at straws.
Some have been here for 5/8/10 years, there are no straws left to clutch, pound for pound value 2012 - 2023 = +46%
2013:
“As a result, shareholders have approved the Company resolution to implement a corporate voluntary arrangement ('CVA') as described in the circular dated 31 July 2013; as well as a capital reorganisation, fund raising of £300,000, disposal of Silvermere's interest in the Mustang Asset, new investing policy and a change of name of the Company to Tern Plc.
Following further demand from professional investors, the Company has, in addition to the Placing Shares, received applications for a further 30,161,290 New Ordinary Shares of each in the Company at a price of 0.124 pence per ordinary share, raising a further £37,400. It is issuing 69,090,144 to the Supervisor of the CVA to be issued to the creditors and 3,043,478 in satisfaction of amounts due to Peterhouse Corporate Finance.“
1/11/13 - Share consolidation at 1000/1
If you invested £10,000 in 2013 it would now be worth around 1k on a like for like basis.
worst of it is, when they put out their video conference & dodge every single difficult question, they will congratulate themselves for making “steady progress”.
Chairman really does need to go. It’s a disgrace.