Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTmt Investments Regulatory News (TMT)

Share Price Information for Tmt Investments (TMT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 3.81
Bid: 3.72
Ask: 3.90
Change: 0.00 (0.00%)
Spread: 0.18 (4.839%)
Open: 3.81
High: 0.00
Low: 0.00
Prev. Close: 3.81
TMT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Partial disposal and revaluation of Depositphotos

29 Mar 2016 07:00

RNS Number : 2853T
TMT Investments PLC
29 March 2016
 

29 March 2016

 

TMT INVESTMENTS PLC

("TMT" or the "Company")

 

Partial disposal and revaluation of investment in Depositphotos, Inc.

 

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that it has sold a sizable part of its holding in Depositphotos, Inc. ("Depositphotos") for US$5.85 million to a private European investor. 

 

TMT's net cash consideration received pursuant to the transaction is US$5.83 million. The Company's remaining fully diluted equity stake in Depositphotos is approximately 16.7%. The Company will use the proceeds of the sale to pursue its investment strategy.

 

The transaction represents an approximately 5.5 times increase in the valuation of TMT's holding in Depositphotos since TMT's original investment in 2011 and 2012, and an approximately US$2.55 million (or 18%) uplift in the fair value of TMT's investment in Depositphotos, compared to the latest reported amount as of 31 December 2015, and is equivalent to 9 cents in additional NAV per TMT share.

 

Alexander Selegenev, Executive Director, commented: "The transaction is further proof of our active asset allocation strategy at TMT, and the fact that attractive exit opportunities are available for quality, fast-growing companies in the Internet/Tech sector. Given the attractive revaluation of the investment achieved to date and our expectations for continuing growth in the future, TMT has kept a significant stake in Depositphotos. Depositphotos has an ambitious and highly motivated team that is executing an active geographic and product expansion strategy in the fast-growing stock photo and video market."

 

About Depositphotos

 

Founded in 2009, Depositphotos is one of the fastest-growing stock photo marketplaces in the world. Headquartered in New York, the company serves customers from 192 countries, providing 24/7 support in 20 languages. Depositphotos has a library of over 40 million premium high-quality stock photos, illustrations, vector images and video files. Its 3 million members worldwide use Depositphotos on a regular basis to search and license desired creative content.

 

 

For further information contact:

 

TMT Investments Plc

Alexander Selegenev

www.tmtinvestments.com

 

+44 1534 281 843

alexander.selegenev@tmtinvestments.com

 

ZAI Corporate Finance Ltd.

NOMAD

Richard Morrison/ Peter Trevelyan-Clark/ Irina Lomova

 

+44 20 7060 2220

Hybridan LLP

Broker

Claire Louise Noyce

 

+44 20 3764 2341

Kinlan Communications

David Hothersall

 

Tel. +44 20 7638 3435

davidh@kinlan.net

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISLLFVAVSISFIR
Date   Source Headline
19th Mar 20247:00 amRNSFinal Results and Notice of AGM
28th Feb 20241:26 pmRNSHoldings in Company
30th Oct 20237:00 amRNSChange of Joint Broker
25th Oct 20237:00 amRNSDirector Dealing
15th Aug 20237:00 amRNSHalf-year Report
23rd May 20233:48 pmRNSResult of AGM
11th Apr 20237:00 amRNSHoldings in Company
28th Mar 20237:00 amRNSFinal Results and Notice of AGM
13th Mar 20235:51 pmRNSUpdate re Silicon Valley Bank
13th Dec 20227:00 amRNSPortfolio Update
8th Dec 20222:58 pmRNSDirector/PDMR Shareholding
7th Oct 20225:30 pmRNSHolding(s) in Company
19th Aug 20227:00 amRNSPDMR and Major Shareholdings
16th Aug 20227:00 amRNSHalf-year Report
23rd May 20226:18 pmRNSResult of AGM and Director Appointment
8th Apr 20221:15 pmRNSPDMR and Major Shareholdings
25th Mar 20227:00 amRNSFinal Results and Notice of AGM
21st Jan 20222:25 pmRNSPDMR and Major Shareholdings
11th Jan 20227:00 amRNSPortfolio Update
2nd Dec 20217:00 amRNSDirector/PDMR Shareholding
11th Nov 202110:00 amRNSBackblaze IPO Pricing Update
1st Nov 20211:00 pmRNSPortfolio Update
19th Oct 202110:45 amRNSPortfolio Update
8th Oct 20215:00 pmRNSHolding(s) in Company
5th Oct 20213:00 pmRNSReceipt of Depositphotos disposal consideration
4th Oct 20215:03 pmRNSResult of the PrimaryBid Offer
1st Oct 20214:36 pmRNSPrimaryBid Offer
1st Oct 20214:30 pmRNSPlacing and Subscription to raise US$18.5 million
17th Sep 20217:00 amRNSPortfolio Update
18th Aug 20217:00 amRNSHalf-year Report
2nd Aug 20214:16 pmRNSSignificant Revaluation
30th Jul 20217:00 amRNSResult of AGM
1st Jul 20217:00 amRNSPortfolio Update
1st Jun 20217:00 amRNSCenkos Growth & Innovation Forum
12th May 202110:00 amRNSPortfolio Update
22nd Apr 20212:28 pmRNSPDMR Shareholdings
21st Apr 20218:27 amRNSDirector/PDMR Shareholding
13th Apr 20216:30 pmRNSDirector/PDMR Shareholding
6th Apr 20218:43 amRNSPDMR and Major Shareholdings
25th Mar 20217:00 amRNSFinal Results and Notice of AGM
17th Feb 20217:00 amRNSChange of Adviser
13th Jan 20214:15 pmRNSDirector/PDMR Shareholding
23rd Dec 20203:00 pmRNSDirector/PDMR Shareholding
21st Dec 20203:30 pmRNSReceipt of US$40.9m re Pipedrive
18th Dec 20207:00 amRNSDirector/PDMR Shareholding
17th Dec 20207:00 amRNSBolt’s EUR150m capital raise and portfolio update
25th Nov 20207:00 amRNSShareholder Loan and Amendment of Bonus Plan
12th Nov 20202:28 pmRNSUS$41m disposal of interest in Pipedrive
16th Oct 20207:00 amRNSPDMR and Major Shareholdings
15th Oct 202012:15 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.