Tern PLC Statement re Share Price Movement (4004I)
04 Agosto 2023 - 2:33PM
UK Regulatory
TIDMTERN
RNS Number : 4004I
Tern PLC
04 August 2023
04 August 2023
Tern Plc
("Tern" or the "Company")
Statement re Share Price Movement
Tern Plc (AIM:TERN), the company focused on value creation from
Internet of Things ("IoT") technology businesses, notes the recent
rise in the Company's share price. The Board also notes today's
significant rise in the share price of Wyld Networks AB ("Wyld" or
"Wyld Networks"). Wyld Networks has published a press release today
in relation to the signing of an agreement with SpaceX to discuss
potential areas of collaboration.
Wyld Networks is a portfolio company of Tern's in which Tern
currently owns approximately 27%.
Extracted from a translation of the Wyld Networks press
release:
"Space X offers satellite connectivity for broadband through
Starlink and connectivity for IoT through Swarm. Wyld and SpaceX
will explore potential areas of collaboration to collect data from
IoT sensors in remote locations.
Satellite connectivity can help bridge the digital divide and
increase the reach and resilience of connections for IoT devices.
This is particularly the case for the 85% of the Earth's surface
that has no cellular coverage.
Both SpaceX and Wyld Networks operate on low-bandwidth satellite
connectivity using satellites orbiting in low orbit. These
satellites cover every point on Earth, enabling IoT devices to
operate and deliver data at an affordable price, anywhere on
Earth.
SpaceX and Wyld will initially explore the potential of offering
remote connectivity in North, Central and South America.
Wyld Networks' IoT engineering team is a leader in delivering
satellite IoT connectivity solutions. Their innovative technology
leads to exceptional performance with satellites orbiting the Earth
in low Earth orbit.
"We are excited to explore possible areas with SpaceX where our
technology can enable additional connectivity and access to data
from sensors and devices in remote locations," said Alastair
Williamson, CEO Wyld Networks. "With Wyld Connect available to
deliver data from IoT devices anywhere on Earth, this is a great
opportunity to partner with the world's most important satellite
companies.""
The full Wyld press release may be accessed here
Enquiries
Tern Plc via IFC Advisory
Ian Ritchie (Chairman)
Sarah Payne (CFO)
Allenby Capital Limited Tel: 0203 328 5656
(Nominated Adviser and Broker)
Alex Brearley / Dan Dearden-Williams
(Corporate Finance)
Matt Butlin / Kelly Gardiner (Sales
and Corporate Broking)
IFC Advisory Tel: 0203 934 6630
(Financial PR and IR) tern@investor-focus.co.uk
Tim Metcalfe
Graham Herring
Florence Chandler
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END
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(END) Dow Jones Newswires
August 04, 2023 08:33 ET (12:33 GMT)
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