TIDMTMT
RNS Number : 0799M
TMT Investments PLC
17 September 2021
17 September 2021
TMT INVESTMENTS PLC
("TMT" or the "Company")
Portfolio Update
TMT Investments Plc (AIM: TMT.L), the venture capital company
investing in high-growth technology companies, is pleased to
announce the following developments in the Company's portfolio
since the publication of the Company's 2021 interim results on 18
August 2021.
Exits and Revaluations
The Company has had the following portfolio exits and
revaluations since the publication of its 2021 interim results on
18 August 2021:
-- TMT sold 11% of its interest in PandaDoc, a proposal
automation and contract management software provider (
www.pandadoc.com ), to a large venture capital fund for a cash
consideration of US$2.0 million. The transaction represents a
revaluation uplift of US$4.2 million (or 30%) in the fair value of
TMT's investment in PandaDoc, compared to the previous announced
amount as of 30 June 2021.
-- TMT signed a definitive conditional agreement to dispose of
its entire holding in Depositphotos, a leading stock photo and
video marketplace ( www.depositphotos.com ), for a total cash
consideration of approximately US$14.3 million (the "Disposal"),
including the hold-back amount of approximately US$1.4 million
payable within approximately 12 months of the completion of the
transaction . Subject to final adjustments, and assuming TMT
receives the entire hold-back amount in full, the Disposal
represents a revaluation uplift of approximately US$3.5 million (or
32.2%) in the fair value of TMT's investment compared to the
previous announced amount as of 30 June 2021. The completion of the
Disposal is subject to various conditions being satisfied, which
include, inter alia, certain competition approvals, with the
parties anticipating completion of, and receipt of the initial
consideration by the Company in connection with, the Disposal
before the end of 2021. Further announcements will be made as
appropriate in this regard.
The above revaluations are expected to result in a combined
increase in the Company's NAV equivalent to approximately US$0.26
per share (before adjustments for the Company's ongoing operating
expenses, accrued bonus, potential future revaluations/impairments,
and similar items). This represents an uplift in the Company's NAV
of approximately 3.5% from the previously stated figure of US$7.49
per share as of 30 June 2021.
New Investments
The Company has also made the following new and further
investments since the publication of its 2021 interim results on 18
August 2021:
-- EUR1,500,000 in EstateGuru, a leading pan-European
marketplace for short-term, property-backed loans (
www.estateguru.co );
-- Additional US$250,000 in Ad Intelligence Inc., trading as
RetargetApp, an online solution aimed at monitoring ad campaigns
and automatically managing daily budgets, audience and bids to
improve the quality of retargeting ( https://retargetapp.com );
-- Additional US$200,000 in Agendapro, Inc., a SaaS-based
scheduling, payment and marketing solution for the beauty and
wellness industry in Latin America ( www.agendapro.com );
-- US$1,800,000 in Prodly, an Applications Operations (AppOps)
software platform that simplifies change management for Salesforce
and helps businesses to automate deployments, regression testing,
governance, and version control for enterprise applications (
https://prodly.co ); and
-- GBP500,000 in SonicJobs App Ltd., an award-winning mobile app
helping blue collar workers find and apply for jobs (
www.sonicjobs.co.uk ).
As of 16 September 2021, TMT had approximately US$11.2 million
of cash and cash equivalents on its balance sheet, and the Company
continues to actively pursue suitable opportunities for further
investment.
Alexander Selegenev, Executive Director of TMT, commented:
" We are delighted to announce further progress in TMT's
portfolio since the publication of TMT's 2021 interim results on 18
August 2021."
"W ith so many investment opportunities available globally, it
is more important than ever to remain focused on investing in
companies that meet TMT' s investment criteria : having outstanding
management teams, a product or service that can be scaled up
globally, fast revenue growth, Series A / Pre-Series A stage, and
viable exit opportunities. We are therefore delighted that
Depositphotos has become TMT's latest full exit, as a company that
met all of those criteria when we first invested in it in 2011,
providing a return of 5 times on TMT' s investment (including
partial exits to date)."
"We are also pleased to announce our partial exit from PandaDoc,
which is testament to the business' excellent progress to date and
underlines the strong secondary buying interest in later-stage
technology companies like PandaDoc from large venture capital
investors ."
"TMT is continuing to make good progress with its investment
programme, investing further into its strong existing portfolio as
and when funding opportunities arise, as well as pursuing new
exciting companies ."
"We look forward to keeping shareholders updated on relevant
developments".
For further information contact:
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)
James Bellman / James Dance +44 (0)20 7409 3494
Cenkos Securities plc
(Joint Broker)
Ben Jeynes +44 (0)20 7397 8900
Hybridan LLP
(Joint 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 a current investment portfolio of over 45 companies
and net assets of US$218 million as of 30 June 2021. 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 .
Twitter
LinkedIn
Facebook
This announcement is released by TMT Investments plc and
contains inside information for the purposes of Article 7 of the
Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PFUUNVARAAUKAUR
(END) Dow Jones Newswires
September 17, 2021 02:00 ET (06:00 GMT)
Tmt Investments (LSE:TMT)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Tmt Investments (LSE:TMT)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
