TERN.L

Tern Plc
Tern PLC - Result of General Meeting
23rd September 2024, 10:10
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RNS Number : 2482F
Tern PLC
23 September 2024
 

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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