Last checked at 4 Aug 2023 13:33
04 August 2023
Tern Plc
("Tern" or the "Company")
Statement re Share Price Movement
Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, notes the recent rise in the Company's share price. The Board also notes today's significant rise in the share price of Wyld Networks AB ("Wyld" or "Wyld Networks"). Wyld Networks has published a press release today in relation to the signing of an agreement with SpaceX to discuss potential areas of collaboration.
Wyld Networks is a portfolio company of Tern's in which Tern currently owns approximately 27%.
Extracted from a translation of the Wyld Networks press release:
"Space X offers satellite connectivity for broadband through Starlink and connectivity for IoT through Swarm. Wyld and SpaceX will explore potential areas of collaboration to collect data from IoT sensors in remote locations.
Satellite connectivity can help bridge the digital divide and increase the reach and resilience of connections for IoT devices. This is particularly the case for the 85% of the Earth's surface that has no cellular coverage.
Both SpaceX and Wyld Networks operate on low-bandwidth satellite connectivity using satellites orbiting in low orbit. These satellites cover every point on Earth, enabling IoT devices to operate and deliver data at an affordable price, anywhere on Earth.
SpaceX and Wyld will initially explore the potential of offering remote connectivity in North, Central and South America.
Wyld Networks' IoT engineering team is a leader in delivering satellite IoT connectivity solutions. Their innovative technology leads to exceptional performance with satellites orbiting the Earth in low Earth orbit.
"We are excited to explore possible areas with SpaceX where our technology can enable additional connectivity and access to data from sensors and devices in remote locations," said Alastair Williamson, CEO Wyld Networks. "With Wyld Connect available to deliver data from IoT devices anywhere on Earth, this is a great opportunity to partner with the world's most important satellite companies.""
The full Wyld press release may be accessed here
Enquiries
Tern Plc Ian Ritchie (Chairman) Sarah Payne (CFO) | via IFC Advisory |
Allenby Capital Limited (Nominated Adviser and Broker) Alex Brearley / Dan Dearden-Williams (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking) |
Tel: 0203 328 5656 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler |
Tel: 0203 934 6630 tern@investor-focus.co.uk |