Sign In
Today 10:49
30 June 2026
Tern Plc
("Tern" or the "Company")
Result of AGM
Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, announces that at the Company's Annual General Meeting ("AGM") held earlier today, all resolutions were duly passed.
Details of the proxy voting on each resolution are set out below:
Resolution | Votes For* | Votes Against | Votes Withheld** | Total Votes Cast (excluding Withheld) | ||
No. of ordinary shares | % of ordinary shares voted | No. of ordinary shares | % of ordinary shares voted | No. of ordinary shares | ||
1. To authorise the Directors to allot and grant rights to subscribe for, or convert any security into, Ordinary Shares up to a total nominal value of £35,000 (representing a total of up to 175,000,000 new Ordinary Shares).
| 278,705,410 | 96.81% | 9,178,902 | 3.19% | 10,137,055 | 287,884,312 |
2. To disapply statutory pre-emption rights, provided that such authority shall be limited to an aggregate nominal value of £15,000 (representing a total of up to 75,000,000 new Ordinary Shares).
| 237,140,635 | 81.49%
| 53,863,386 | 18.51% | 7,017,346
| 291,004,021
|
3. To authorise the Company to make market purchases of its Ordinary Shares, subject to certain restrictions.
| 284,224,541
| 96.99%
| 8,807,538
| 3.01% | 4,989,288
| 293,032,079
|
* Votes 'For' include votes giving the Chairman discretion.
** A 'Vote Withheld' is not a vote in law and has not been counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution.
The resolutions are set out in full in the Notice of AGM available on the Company's website at https://ternplc.com/aim-rule-26/.
Whilst Resolution 2 was passed with the necessary majority, the Board notes the proportion of shareholders who have voted against resolution 2. The Board is committed to continuing an open dialogue with the Company's shareholders and following the voting at the AGM, where it is able to, the Board will continue to seek to engage with those shareholders who are understood to have voted against certain of the resolutions to understand their views and/or any specific concerns.
Enquiries
Tern Plc Jane McCracken (Interim Non-Executive Chair) | via IFC Advisory |
Allenby Capital Limited (Nominated Adviser and Broker) Alex Brearley / Ashur Joseph (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) |
Tel: 0203 328 5656 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Staton |
Tel: 0203 934 6632 |
Tern (TERN)
Follow the stocks
