Tmt Investments Share News (TMT)

LONDON (Alliance News) - Venture capital firm TMT Investments PLC said on Thursday 2017 was "another" successful year for the company with net asset value per share rising 29%.

TMT's net asset value at the end of December was USD2.43, compared to USD1.89 the same date a year earlier.

It made a loss on investments of USD944,889 compared to a USD3.7 million gain in 2016, and swung to a pretax loss of USD2.6 million from a USD1.8 million profit in 2016.

During the year, TMT made USD2.2 million of profitable partial cash exits from three companies, and registered USD20.8 million in positive revaluations. It also booked USD4.4 million in impairments in 2017.

This year, TMT will not be paying a dividend, having paid out USD2.8 million to shareholders in 2016.

The company is also to seek permission from shareholders to invest in digital assets alongside its technology, media, and telecoms focus.

Executive Director Alexander Selegenev said: "2017 was another successful year for the company, with several sizeable revaluations and partial exits across our portfolio. In line with expectations announced in our 2016 annual report, we were delighted to record eight positive revaluations in 2017.

"These have more than offset the nine smaller write-downs that we have diligently accounted for in order to maintain our portfolio free from poorly performing investees."

Shares were untraded on Thursday at 3.70 pence each.