Tern plc (GB:TERN) has released an update.
Tern plc has decided not to participate in Wyld Networks’ recent rights issue, citing concerns that it was not in the best interests of shareholders. The rights issue, which was underwritten and subscribed to a significant extent, aims to raise approximately SEK 41 million for Wyld Networks. Tern’s stake in Wyld Networks will be diluted to about 0.7% following the completion of the rights issue.
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