By Nigel Somerville, the Deputy Sheriff of AIM | Monday 3 August 2020
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.
Of course not! The last reported NAV of AIM-listed jam-tomorrow- next year-never IoT investment company Tern (TERN) was 7.0p, as stated in its FY19 results. This followed a year during which the company raised £3.25 million at a premium to NAV, but still saw a reduction in NAV per share. I guess that is operational gearing at play!
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