Tern PLC (TERN)
Tern PLC: Director appointment
31-March-2020 / 07:00 GMT/BST
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31 March 2020
Tern Plc ("Tern" or the "Company")
Director appointment
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce the appointment of Matthew Scherba as Investment Director with immediate effect. Matthew originally joined Tern in December 2019 in a non-Main Board capacity.
Matthew has 25 years of start-up and scale-up experience specialising in working and investing in technology companies across the IoT industry, his experience covers the full company lifecycle development, from start-up to exit, with a focus on strategy and commercial scale across both the private and public sector markets. Prior to joining Tern, he spent almost five years at a UK venture capital investment company dedicated to the IoT arena. During this time, he helped originate, invest and support the development of disruptive technology companies in the UK, Europe and the US, and particularly within artificial intelligence (AI) and machine learning. Additionally, he held board positions on several portfolio companies, and worked with management teams to help develop their strategic, commercial and operational functions.
Al Sisto, CEO of Tern, said:
"With 25 years of experience working with or investing in technology companies, Matthew will be a highly valuable addition to our Board. He has already made a significant contribution since joining our company at the end of 2019 and we look forward to benefitting from his experience at a Board level. As Investment Director, he will help us to expand our support to our portfolio companies, identify commercial businesses and new opportunities in this high growth industry and further develop our investment strategy."
Matthew Peter Scherba (aged 53)
In accordance with Schedule 2(g) of the AIM Rules, Matthew Scherba holds, or has held in the past five years, the following directorships and partnerships:
Current
Past five years
Tx3 Solutions Limited
Wearable Technologies Limited
Talepathy Limited
Plancentric Limited
Foodmarble Digestive Health Limited (Ireland)
Plancentric Global Limited
Peafowl Solar Power AB
Foodmarble Digestive Health Limited (UK)
InVMA Limited
Mr Scherba and his family members are beneficially interested in a total of 716,0001 ordinary shares of 0.02p in Tern ("Ordinary Shares"), which is equivalent to 0.25% of the Company's voting rights.
1Mr Scherba is beneficially interested in 325,000 Ordinary Shares and his family members are beneficially interested in the following Ordinary Shares: L Gennard, 325,000 Ordinary Shares, L Scherba, 33,000 Ordinary Shares and S Scherba, 33,000 Ordinary Shares.
Enquiries
Tern Plc
Al Sisto/Sarah Payne
via Newgate Communications
Allenby Capital Limited
(Nomad and Joint broker)
David Worlidge/Alex Brearley/Guy McDougall
Tel: 0203 328 5656
Whitman Howard
(Joint broker)
Nick Lovering/Christopher Furness
Tel: 020 7659 1234
Newgate Communications
Elisabeth Cowell/Megan Kovach
Tel: 020 3757 6880
ISIN: GB00BFPMV798 Category Code: MSCM TIDM: TERN LEI Code: 2138005F87SODHL9CQ36 Sequence No.: 55537 EQS News ID: 1011119
End of Announcement EQS News Service