Member Info for VistaMan

Banburyboy, I think you have that all wrong, the presentation shows:

Operating Profit before tax of £159MM

Gain on Acquisition before tax of £139MM

So TOTAL before tax profit is £298MM

Total after Tax profit of £175MM

The recurring profits are NOT £35MM as you posted, a very misleading statement.

I wonder if Eric Williams "resignation" was anything to do with remuneration, given that only 62% of shareholders voted for the Directors Remuneration Report at the AGM? See excerpt from today's RNS.

"In the six months following the Company's 2023 Annual General Meeting and as part of its engagement related to items on which shareholders voted at that meeting, the Company engaged in discussions with shareholders regarding remuneration."

Sharebel, could you tell me what your item C refers to? period etc?

Sorry - "Significant portion of Wyld".

Flava,

I wouldn't call Progressive's Research independent. Its paid for by Tern. I consider it part of Tern's marketing efforts. They don't mention anything about the funding conundrum, ie Tern have to start paying back the loan 6 months after they draw down a tranche. (first drawdown mid June, due to start payment in mid December) The issue is they have no income and no ability to place shares. Even if they had the ability to place the current SP will result in more significant dilution and shareholder ire. Their only option is to continue to sell down Wyld shares and further depress the Wyld SP. The only thing that brought excitement to this board was the Wyld Space X link. Going forward Tern may not actually own a significant portion of Tern, they sold £1.2 million so far with £3.2 million left as of June 30, 2023. Remember they still have to fund their own costs and none of the investee companies have achieved beak even cash flow.

Vista.

Diverking, there are pumps designed for handling all sorts of liquids, viscosities, slurries, dispersions including low lubricity liquids. Have had to overcome such issues in my own career. I must admit sometimes it took us a few goes to get the pump selection right when dealing with new fluid types. Still disappointed with what happened here though.

Another collaboration, this time with Telefonica. Focusing on South America.

https://ts2.space/en/telefonica-partners-with-starlink-enterprise-to-expand-broadband-satellite-connectivity/

Tony, thank you. I think he does have an agenda. Last Friday a full scale pump and dump crew arrived on the Tern message board after an unofficial piece of news about one of the investee companies. Myself and a few others had the temerity to call out some of the non-factual ramps. This guy has numerous accounts, apologies for him following me here!

Sharebel, ever hear of limit orders? You put in an order you want to buy at? Doesn't have to be at the current market price! I am hoping for a much quieter board here today!

Guys, can we stop exchanging insults here and letting the board deteriorate? I don't mind anyone posting their opinions on here as long as they are using published facts / data as their basis. We are still invested in a good company with excellent assets and the ability for lots of organic growth. The dividend cut was unfortunate but essential given the then strip prices but if oil/gas prices continue their trend into Q1 then I suspect we will see more growth capital and a special dividend potentially. Fighting here won't change anything. If you have genuine concerns then contact the company directly and post back their response.

Thanks,

Vista.

Flava, normal investors get fed up with non-stop repetitive ramping on the board day in day out. By the way, for clarity I am referring to you and Sharebel. Could I be so bold to ask you to consider taking your own advice offered to Newuncle in your post at 11:13 today!

"Newuncle, please switch off your computer or mobile and come back next week"

Between the 2 of you, you have 40 of the 87 posts today. Pretty confident if you stopped posting there would be no need for people to post in response.

Its boring, repetitive and it isn't going to produce results for you. You are just pi**ing the majority off.

Sharebel, how much have you lost on the spike? All I see is ramp, ramp, ramp from you today. Nobody is paying any attention.

27% stake in WYLD

Shorts are going long? what's the evidence for that?

Equity Research - paid for marketing by Tern

Shorts - the old standard ramping play

MM games - ?

Real investors - never seen you post on the board before this recent pump & dump

Blah Blah Blah.

There weren't many if any stale bulls posting positively on here over the weekend. If you want to look somewhere for blame then look no further than the ramping crew that descended on this board.

Tricky, the CEOs name is Al Sisto! What he said on the Q&A in June was that none of the investee companies were cash flow positive and that he was asking them to pivot from growth at all costs to something that would require less future funding BUT they would still require funds. All of them (except Wyld) require ongoing funding from Tern and other investors .Tern's options have been limited so as each funding round comes about (with the exception of DA where they have managed to hold a majority share) the Tern share of the investee companies has been reduced.

Regarding WYLD, Tern have no intention of providing any additional funding should it be required, rather Tern see their holding in WYLD as being as source of funding for Tern.

Regarding the CEO, I have been listening to his confidence in the investee companies for many years, shareholders got tired of jam tomorrow and he was not re-elected to the board at the AGM in June and is no longer a Director but still an employee.

By the way, at the recent Q&A session in June, he wasn't painting a positive picture, rather he gave a stark warning on the collapse of valuations in the sector over the previous 12-18 months which resulted in a significant reduction in NAV for Tern, one of the reasons why the SP had fallen to ~4p.

Chiddybang, I don't believe there is any near term placing coming simply because at the last AGM shareholders voted against the BODs ability to place shares!

They have a funding facility in place and have taken the first £500k on June 12 but they have to start paying it back (not just interest) in 180 days after drawing it and complete the payback over the subsequent 12 months. The only open funding available to the BOD and their stated policy is to sell WYLD shares or one of their other investments. Tern's current cash burn run rate is ~£150k per month but they may look to reduce that in order to attempt to placate shareholders.

There appears to be a large number of new Tern shareholders posting on the board now since the Wyld NON-RNS announcement. I would strongly advise all to research the latest RNSs, company presentations, Investor Q&A sessions, Capital Market Days, certainly at least for 2023 - all available on the Tern PLC website. These should be your source of information to enable investment decisions to be made.

Please DYOR.

Tricky, you do realise that Progressive are actually paid by Tern to produce this report? Its not independent. Consider it part of Tern's marketing effort.

NOTE: Progressive's research is commissioned by the subject company under contract, and is freely available to the public and institutional investors. Progressive does not offer investors the ability to trade securities, and Progressive does not provide investment advice. Our publications should not, therefore, be considered an inducement under MiFID II regulations.

Newuncle, Classic Ramping without offering any supporting data, absolutely disgusts me. Anyway, thats me finished for today wasting my time here, GLA.

InvestorACE, post a link to back up what you say!

Newuncle, just tell me what facts I have posted are incorrect, with supporting data of course!

Flava, Spreadex isn't shorts. It's spread betting, you don't have to purchase Tern shares because your bet is going against you.

You might want to look at these:

https://uk.advfn.com/toplists/free/most_shorted

Tern doesn't make the top 100.

https://www.ig.com/uk/shares/markets-shares/tern-plc

100% of clients are long.

I realise this may not fit the current narrative on the board but I like to understand facts.