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LONDON - Tern Plc (AIM:TERN), an investment company focused on Internet of Things technology businesses, announced Monday the appointment of Robert Stevens as an adviser on shareholder relations.
Stevens, who is a private shareholder in the company, will provide strategic advice on investor communications and shareholder sentiment. His experience with the UK small-cap investment community will help Tern remain "closely attuned to market views" as it pursues its long-term strategy, according to the press release statement.
The company has conditionally granted Stevens 1,000,000 options over ordinary shares. These options are subject to obtaining requisite authorities through a shareholder resolution at a future general meeting.
If conditions are met, the options will vest in equal monthly amounts over three years and will be exercisable for 10 years from the vesting date. The exercise price is set at 1.70p per ordinary share, approximately double the mid-market closing price of Tern shares on August 29, 2025.
The Board of Tern indicated it will continue to evaluate appointing additional advisers as part of its "ongoing commitment to enhancing shareholder engagement and value creation."
Upon satisfaction of the conditions for Stevens’ appointment, the total number of outstanding options over ordinary shares in the company will be 11,500,000.
Tern specializes in supporting early-stage, disruptive Internet of Things technology businesses.
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