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By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 13 March 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM-listed jam tomorrow investment company Tern plc (TERN) has announced that its principal investee company, Device Authority, has a new strategic partner in the form of NSE-listed (National Stock Exchange of India, not the NYSE!) Larsen & Toubro Limited. It looks like a big player but…..
The problem is that there are no financials offered in today’s RNS – although we do have a previous figure from the RNS of 24 January, when we were told the then un-named partner had signed up for a 3-year deal worth a minimum of $200,000. Er, so that’s a minimum of under $67,000 a year – or about £48,000.
Given that we are told Tern owns about 57% of DA, that comes out at about £28,000 a year to £5.6 million-valued Tern. It may work out as a fantastic deal in the end, but I simply don’t see much to get excited about just yet!
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