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Tern Plc announced that, following approval by the Loan provider, the repayment date of its loan facility agreement has been extended from 15 September 2025 to 5 March 2026. Approximately £150,000 remains outstanding under the Loan, which, plus accrued interest at a rate of 1.00% per calendar month, is repayable by Tern Plc on or before 5 March 2026.
| Date | 15 Sept 2025 |
| Time | 07:00:08 |
| Category | Miscellaneous |
| ID | 2335Z |
15 September 2025
Tern Plc
("Tern" or the "Company")
Extension of Loan Facility Term
Tern Plc (AIM:TERN), the investment company specialising in supporting high growth, early-stage, disruptive Internet of Things ("IoT") technology businesses, announces that in order to assist with the preservation of the Company's cash resources and to enable the Company to have greater negotiating flexibility in relation to the possible capital requirements of its investments, the repayment date of the loan facility agreement originally announced on 12 June 2023 (the "Loan") and subsequently varied, as announced on 4 September 2024, has, following approval by the Loan provider, been extended from 15 September 2025 to 5 March 2026.
Approximately £150,000 remains outstanding under the Loan and this amount plus accrued interest at a rate of 1.00% per calendar month will be repayable by the Company on or before 5 March 2026.
Enquiries
|
Tern Plc Jane McCracken (Interim Non-Executive Chair) |
via IFC Advisory |
|
Allenby Capital Limited (Nominated Adviser and Broker) Alex Brearley / Dan Dearden-Williams (Corporate Finance) Kelly Gardiner / Guy McDougall (Sales and Corporate Broking) |
Tel: 0203 328 5656 |
|
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Staton |
Tel: 0203 934 6630 |