George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. 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

Portfolio Revaluations Update

19 Sep 2017 07:00

RNS Number : 0929R
TMT Investments PLC
19 September 2017
 

19 September 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, which are collectively expected to result in a US$9.2 million increase (+15.8%) in the Company's net asset value ("NAV"):

 

· TMT has sold a small proportion of its holdings in Wrike, Pipedrive and ScentBird for a total consideration of approximately US$1.1 million to two investors, one being an institutional investor and the other a private investor. In the case of Wrike, the valuation achieved was in line with the valuation previously announced by TMT. In the cases of Pipedrive and ScentBird, the disposals were at higher implied valuations than those previously announced by TMT, with fair value uplifts of US$2.8 million (+40%) and US$6.6 million (+728%) respectively.

 

· LeTote, the online fashion rental retailer, has completed a new equity financing round at an increased valuation for LeTote compared to the level previously announced by TMT. Backblaze, the online backup and cloud storage company, has received a new independent valuation report ascribing a higher fair value for Backblaze than that previously announced by TMT. At the same time, TMT has impaired its holding in native advertising platform Virool. The developments in LeTote, Backblaze and Virool are collectively expected to result in a US$0.2 million decrease in the Company's net asset value.

 

These developments collectively result in an expected increase of approximately US$9.2 million (or 15.8%) over the Company's unaudited NAV of US$58.4 million as at 30 June 2017, equivalent to approximately 33 cents in additional NAV per TMT share.

 

In its half-year 2017 report, the Company's NAV per share as of 30 June 2017 was announced at US$2.09 (bonus-adjusted).

 

Alexander Selegenev, Executive Director of TMT, commented:

 

"We are delighted with these positive revaluations across our portfolio, in line with the expectations announced in our 2016 Annual Report. We are also pleased with the fact that growth rates continue across many of our star portfolio companies, creating the basis for further potential positive revaluations and profitable exits in the future."

 

This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information contact:

 

TMT Investments PLC

Alexander Selegenev

Executive Director

www.tmtinvestments.com

 

+44 1534 281 843

alexander.selegenev@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

David Hothersall

 

+44 20 7638 3435

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
 
END
 
 
MSCLLFSDADITLID
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.