TMT Investments PLC Pipedrive partial exit and revaluation (1275H)

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RNS Number : 1275H

TMT Investments PLC

27 November 2015

TMT INVESTMENTS PLC

("TMT" or the "Company")

Partial disposal and revaluation of investment in Pipedrive, 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 small part of its equity stake in Pipedrive, Inc. ("Pipedrive").

The transaction represents an approximately US$751,212 (or 29%) uplift in the fair value of TMT's investment in Pipedrive, compared to the latest announced amount as of 30 June 2015, and is equivalent to 3 cents in additional net asset value per TMT share.

TMT's cash consideration received pursuant to the transaction is US$249,490. The Company's remaining equity stake in Pipedrive is worth approximately US$3.1m, which represents a US$0.5m uplift compared to the latest valuation as of 30 June 2015.

Alexander Selegenev, Executive Director, commented: "This transaction reflects our active asset allocation strategy at TMT. We are pleased to see that attractive partial exit opportunities are available for privately held companies in our portfolio, which allows us to enhance our active management approach."

About Pipedrive:

Founded in 2010, Pipedrive (www.pipedrive.com) provides simple, intuitive sales management software to small businesses. The company is based in both the U.S. and Estonia and has over 100 employees serving more than 10,000 paying customers worldwide. Pipedrive has raised US$13.4 million in funding backed by Bessemer Venture Partners, Paua Ventures, Rembrandt Venture Partners, Monashees Capital, AngelPad, Storm Ventures, TMT Investments, and angel investors.

For further information contact:

 
TMT Investments Plc        +44 1534 281 843 
 Mr. Alexander Selegenev    alexander.selegenev@tmtinvestments.com 
 www.tmtinvestments.com 
ZAI Corporate Finance 
 Ltd. 
 NOMAD and Broker 
 Richard Morrison/Irina 
 Lomova                    +44 20 7060 2220 
Kinlan Communications      Tel. +44 20 7638 3435 
 David Hothersall           davidh@kinlan.net

About TMT Investments

TMT Investments PLC invests in high-growth, internet-based companies across a variety of sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has net assets of US$42m and has invested in just under 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

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