Tern plc (GB:TERN) has released an update.
Tern Plc, an investment firm focusing on IoT technology businesses, faced a setback as its shareholders voted against a resolution that would allow the issuance of new shares without pre-emption rights. This decision may lead the company to sell off its portfolio assets sooner than beneficial for shareholders, potentially resulting in greater dilution of its remaining holdings and lower shareholder value. Despite this, the company remains committed to engaging with its shareholders to understand their concerns following the AGM results.
For further insights into GB:TERN stock, check out TipRanks’ Stock Analysis page.
