23 September 2024
Tern Plc
("Tern" or the "Company")
Result of GM
Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, announces that at the Company's General Meeting ("GM") held earlier today all resolutions were 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 | |||
|
| ORDINARY RESOLUTION | ||||||
| 1. To authorise the Directors to allot securities | 45,100,041 | 75.73 | 14,456,053 | 24.27 | 225,267 | 59,556,094 | |
|
| SPECIAL RESOLUTION | ||||||
| 2. To disapply statutory pre-emption rights | 44,887,088 | 75.37 | 14,669,006 | 24.63 | 225,267 | 59,556,094 | |
*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 Company's Notice of General Meeting dated 5 September 2024 and available on the Company's website at:
https://ternplc.com/aim-rule-26/.
The votes received represented approximately 13.76 per cent. of the Company's issued share capital.
Whilst Resolutions 1 and 2 were passed with the necessary majorities, the Board notes the voting in relation to these resolutions. The Board is committed to continuing an open dialogue with the Company's shareholders. Following the voting at today's GM, 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 Ian Ritchie (Chairman) | 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 Chandler |
Tel: 0203 934 6630 |
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