TERN Tern Plc

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 Tern PLC (TERN) 
Tern PLC: Long term contract win for Device Authority and Further re 
Portfolio Update 
 
27-Dec-2018 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
*27 December 2018* *Tern Plc (the "Company", or the "Group")* 
 
*Long term contract win for Device Authority and Further re Portfolio 
Update* 
*Long term contract win for Device Authority* 
 
Tern Plc (AIM:TERN), the investment company specialising in the Internet of 
Things ("IoT"), is pleased to announce a five year contract win for Device 
Authority ("DA"), the IoT security business in which Tern has a 56.8% 
holding. 
 
The contract, with a leading medical device manufacturer, has a first year 
contract value of approximately $80,000 to DA, with an anticipated value of 
more than $1 million over five years. 
 
The contract will see DA, in conjunction with a leading hardware security 
modules (HSM) vendor, utilise DA's KeyScaler platform to deliver a security 
solution for the high quality surgical devices the customer manufactures, 
used in a variety of hospital treatments, which handle critical and 
confidential patient data. DA will provide enhanced features, supporting 
both online and offline processing. 
 
*Tern CEO Al Sisto said: *"We are delighted to announce this new contract 
win for Device Authority within the Internet of Medical Things space. This 
demonstrates the versatile nature of DA's KeyScaler platform, its patented 
technology and the company's continuing ability to produce and develop 
integral security solutions. 
 
"We look forward to announcing further updates from DA in the future." 
 
*Further re Portfolio Update* 
 
Further to the announcement issued on 22 November 2018, the Company wishes 
to make clear that the reference to total cash raised in the year of GBP6.0m 
does not include the GBP550,000 of convertible unsecured loan notes that were 
drawn down on 9 January 2018 under the GBP2.2m facility entered into on 30 
November 2017 and subsequently converted into ordinary shares, as previously 
announced on 17 January 2018 and 16 February 2018. The cash balance at 31 
October 2018 remains as GBP2m. 
 
This announcement contains inside information for the purposes of Article 7 
of EU Regulation 596/2014. ***ENDS*** 
*Enquiries* 
 
*Tern Plc*                          via Newgate Communications 
Al Sisto/Sarah Payne 
*Allenby Capital Limited*           Tel: 0203 328 5656 
(Nomad and joint broker) 
David Worlidge / Alex Brearley 
*Whitman Howard*                    Tel: 020 7659 1234 
(Joint broker) 
Nick Lovering / Christopher Furness 
*Newgate Communications*            Tel: 020 3757 6880 
Elisabeth Cowell / Fiona Norman 
 
ISIN:          GB00BFPMV798 
Category Code: PFU 
TIDM:          TERN 
LEI Code:      2138005F87SODHL9CQ36 
Sequence No.:  7027 
EQS News ID:   762013 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

December 27, 2018 02:01 ET (07:01 GMT)

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