Last checked at 10 Jul 2018 07:00
Tern PLC (TERN) Tern PLC: Additional Investment in InVMA 10-Jul-2018 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. 10 July 2018 Tern Plc (AIM: TERN)
Additional Investment in InVMA
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that it has made an additional investment of £375,000 into InVMA Limited ("InVMA"), one of its existing portfolio companies.
In line with the announcement dated 25 September 2017 and as a result of InVMA having met certain sales milestones, Tern has completed its investment of £1 million in InVMA in order to maintain its 50% holding.
InVMA, which is a leading user and partner to ThingWorx, PTC's IOT platform and a key strategic partner for Tern's portfolio company Device Authority Limited, has had positive performance since Tern made its initial investment into the InVMA. InVMA recently announced that it had entered into a new contract with ESAB Limited. Additionally, InVMA developed the ClarityTM platform on behalf of GCE Healthcare, which was launched to the market on 3 May 2018.
Bruce Leith, Business Development Director for Tern, said:
"We're delighted to announce our follow-on funding for InVMA. Having recently announced a new contract, we remain confident of InVMA's future prospects, and are pleased to continue to support the company and its management team."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
Enquiries
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| ISIN: | GB00BFPMV798 |
| Category Code: | MSCH |
| TIDM: | TERN |
| LEI Code: | 2138005F87SODHL9CQ36 |
| Sequence No.: | 5732 |
| EQS News ID: | 702921 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.