Tern PLC: Significant commercial order for InVMA

Date : 01/13/2020 @ 7:00AM
Source : UK Regulatory (RNS & others)
Stock : Tern Plc (TERN)
Quote : 8.6  -0.15 (-1.71%) @ 4:35PM
Tern share price Chart

Tern PLC: Significant commercial order for InVMA

 Tern PLC (TERN) 
Tern PLC: Significant commercial order for InVMA 
13-Jan-2020 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 This announcement contains inside information for the purposes of Article 7 
                of EU Regulation 596/2014. 
13 January 2020 
        Tern Plc ("Tern" or the "Company") 
        Significant commercial order for InVMA 
Tern Plc (AIM: TERN), the investment company specialising in the Internet of 
    Things ("IoT"), is pleased to announce that its portfolio company, InVMA 
   Limited ("InVMA"), has secured an initial order commitment worth GBP817,000 
  over a two-year period to provide its AssetMinder(R) solution to a global, 
      multi-billion Euro revenue supplier to the industrial and construction 
                sectors (the "Supplier"). 
  This represents the start of a global partnership between the Supplier and 
  InVMA, which will see AssetMinder(R) deployed into the Industrial Internet 
      of Things ("IIoT") sector. InVMA will enable the Supplier to deliver a 
       condition-monitoring offering for the smart manufacturing and process 
       industries, IIoT sensor, and other asset management that incorporates 
                predictive analytics to maximise uptime and productivity. 
                InVMA Chairman and Tern director, Bruce Leith, said, 
 "We believe that InVMA is a pioneer in the digital transformation arena and 
           this order commitment highlights the level of acceptance that its 
           AssetMinder(R) solution has gained within the industry. This is a 
  significant strategic relationship and provides a foundation to expand the 
           capabilities of the Supplier's IIoT product portfolio. As a major 
    shareholder in InVMA, we look forward to benefitting from the value that 
               this contract should create within this exciting investment." 
    Tern has a 50% equity ownership of InVMA. Tern's investment in InVMA was 
 valued at GBP1 million in the Company's unaudited interim results for the six 
                months to 30 June 2019. 
Tern plc                          Via Newgate Communications 
Al Sisto, CEO 
Sarah Payne, Finance Director 
                                  Tel: 0203 328 5656 
Allenby Capital Limited 
(Nomad and Joint broker) 
David Worlidge/Alex Brearley 
                                  Tel: 020 7659 1234 
Whitman Howard 
(Joint broker) 
Nick Lovering/Christopher Furness 
Newgate Communications            Tel: 020 3757 6880 
Elisabeth Cowell/Megan Kovach 
ISIN:          GB00BFPMV798 
Category Code: MSCM 
TIDM:          TERN 
LEI Code:      2138005F87SODHL9CQ36 
Sequence No.:  39993 
EQS News ID:   951525 
End of Announcement EQS News Service 

(END) Dow Jones Newswires

January 13, 2020 02:00 ET (07:00 GMT)

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