Augmentum Fint. Regulatory News (AUGM)

Augmentum Fintech Plc - Portfolio Update - Tide

PR Newswire

London, September 24

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EC NO. 596/2014) ("MAR")

24 September 2019

Augmentum Fintech plc

Portfolio Update - Tide

Augmentum Fintech plc (LSE: AUGM) (“the Company”), the UK’s only publicly listed investment company focusing on the fintech sector, announces an update on the Company’s investment in portfolio company Tide, the financial technology platform for small businesses.

The Company’s investment in Tide comprised a number of convertible instruments which have today been converted into equity in Tide, implying a revised valuation of the Company's holding in Tide of approximately £14.2 million.

This implied valuation would represent a total uplift of approximately £4.2 million compared to the carrying value of the Company’s investment in Tide (being the last reported fair value of the Company’s holding of £4.975 million as at 31 March 2019 combined with the Company’s £5 million further investment into Tide in June 2019). The implied valuation equates to an increase of approximately 3.6 pence per ordinary share to the Company’s last reported net asset value (“NAV”) per ordinary share of 109.6 pence as at 31 March 2019.

The Company's NAV and NAV per ordinary share as at 30 September 2019 will be calculated in accordance with its valuation policy and are expected to be reported in November 2019 in line with the Company’s scheduled reporting timetable. Shareholders should note that the calculation of the NAV per ordinary share as at 30 September 2019 will take account of the latest valuations of all of the Company's investments. As such, this announcement does not constitute or describe an updated NAV of the Company.

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About Augmentum

Augmentum invests in fast growing fintech businesses that are disrupting the banking, insurance, asset management and wider financial services sectors. Augmentum is the UK’s only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines.