TMT Investments PLC Portfolio Revaluations Update (1175T)
10 October 2017 - 5:00PM
UK Regulatory
TIDMTMT
RNS Number : 1175T
TMT Investments PLC
10 October 2017
10 October 2017
TMT INVESTMENTS PLC
("TMT" or the "Company")
Portfolio Revaluations Update
TMT Investments PLC (AIM: TMT.L), the venture capital company
investing in high-growth technology companies across a number of
core specialist sectors, announces the following investment
portfolio developments since its previous announcement on 19
September 2017:
-- Taxify, the ride-hailing company, has raised additional
equity capital at an increased valuation compared to the level
previously announced by TMT.
-- TMT has impaired its holding in Try The World.
-- TMT has sold an additional small holding in Pipedrive for a
total consideration of approximately US$450,000 to a private
investor. The valuation achieved was in line with the valuation
previously announced by TMT.
These developments collectively result in an expected further
increase of approximately US$1.3 million in the Company's net asset
value ("NAV"), equivalent to approximately 4.8 cents in additional
NAV per TMT share.
In its half-year 2017 report, the Company's unaudited NAV as of
30 June 2017 was announced as US$58.4 million, or US$2.09
(bonus-adjusted) per TMT share.
On 19 September 2017, following a number of positive
revaluations and partial disposals, TMT announced an expected
increase in NAV of approximately US$9.2 million, equivalent to an
additional 33 cent increase in the Company's NAV per share.
Alexander Selegenev, Executive Director of TMT, commented:
"We are delighted with the continuing trend of positive
revaluations in our portfolio, especially from Taxify, whose
previous positive revaluation we announced just over two months
ago. Adjusted for TMT's operating expenses in the second half of
2017, our current estimated NAV per share stands at approximately
US$2.45, meaning that TMT shares now trade at a significant
discount to estimated NAV, as adjusted for recent portfolio
revaluations."
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014.
For further information contact:
TMT Investments PLC +44 1534 281 843
Alexander Selegenev alexander.selegenev@tmtinvestments.com
Executive Director
www.tmtinvestments.com
Smith & Williamson Corporate
Finance Ltd
Nominated Adviser
Russell Cook
David Jones
Ben Jeynes +44 (0)20 7131 4000
Hybridan LLP
Broker
Claire Louise Noyce +44 20 3764 2341
Kinlan Communications +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments PLC
TMT Investments PLC invests in high-growth technology companies
across a number of core specialist sectors and has a significant
number of Silicon Valley investments in its portfolio. Founded in
2010, TMT has net assets of US$58m and has invested in over 40
companies to date. The Company's objective is to generate an
attractive rate of return for shareholders, predominantly through
capital appreciation. The company is traded on the AIM market of
the London Stock Exchange. www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
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