TMT Investments PLC Receipt of US$40.9m re Pipedrive (4185J)
21 Diciembre 2020 - 9:30AM
UK Regulatory
TIDMTMT
RNS Number : 4185J
TMT Investments PLC
21 December 2020
21 December 2020
TMT INVESTMENTS Plc
("TMT" or the "Company")
Receipt of US$40.9 million in respect of the disposal of TMT's
interest in Pipedrive
TMT Investments PLC (AIM: TMT.L), the venture capital company
investing in high-growth technology companies, is pleased to
announce that, further to its announcement of 12 November 2020
regarding the disposal of its entire holding in Pipedrive, Inc.
("Pipedrive") (the "Disposal"), the Company confirms receipt of the
initial consideration of US$40.9 million, with a further small
deferred consideration payable, which TMT expects will amount to
less than 1% of the initial consideration, subject to certain
adjustments, over the next few months.
The Disposal represents a substantial uplift in the valuation of
TMT's investment in Pipedrive and following receipt of US$40.9
million, the Company's cash position has now increased
significantly to over US$42 million and the Company will continue
to seek to identify and invest in opportunities within the
technology sector to create further shareholder value.
In addition, the Company intends to fully repay its
zero-interest shareholder loan, announced on 25 November 2020, of
which a total of US$3.0 million has been drawn to date.
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014.
TMT Investments Plc +44 (0)1534 281 800
Alexander Selegenev (Computershare - Company Secretary)
Executive Director
www.tmtinvestments.com alexander.selegenev@tmtinvestments.com
Strand Hanson Limited (Nominated
Adviser)
Richard Tulloch / James Bellman +44 (0)20 7409 3494
Hybridan LLP (Broker)
Claire Louise Noyce +44 (0)20 3764 2341
Kinlan Communications +44 (0)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 invested in over 60 companies to date and has net
assets of US$101m as of 30 June 2020. 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 .
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