TMT Investments PLC Revaluation of investment in Taxify (6592M)
August 01 2017 - 3:00AM
UK Regulatory
TIDMTMT
RNS Number : 6592M
TMT Investments PLC
01 August 2017
1 August 2017
TMT INVESTMENTS PLC
("TMT" or the "Company")
Revaluation of investment in Taxify
TMT Investments PLC, the venture capital company which invests
in high-growth, technology companies across a number of core
specialist sectors, is pleased to announce that its portfolio
company Taxify OÜ ("Taxify") has completed a new equity financing
round as part of a strategic partnership with Didi Chuxing, the
world's leading mobile transportation platform.
The transaction represents a revaluation uplift of approximately
US$1.8 million (or 547%) in the fair value of TMT's investment in
Taxify, compared to the previous reported amount as of 31 December
2016, and is equivalent to approximately 6.5 cents in additional
net asset value per TMT share.
Alexander Selegenev, Executive Director of TMT, commented: "We
are delighted with this positive revaluation of our investment in
Taxify. As announced in our 2016 Annual Report, this is the third
of a number of positive revaluations we said we were expecting in
2017. It also provides yet another example of the revaluation time
lag attributable to many of our successful fast-growing portfolio
companies."
About Taxify
Launched in Estonia in 2013, Taxify is an international
transportation network company headquartered in Tallinn, Estonia
and operating in 25 cities and 18 countries in Europe, West Asia,
Africa and Mexico with over 2.5 million users. The company develops
and operates the Taxify mobile application, which allows customers
to request a taxi or private hire driver from their smartphone.
For further information contact:
TMT Investments plc +44 1534 281 843
Alexander Selegenev alexander.selegenev@tmtinvestments.com
Executive Director
www.tmtinvestments.com
ZAI Corporate Finance
Ltd.
NOMAD
Dugald Carlean/Ray Zimmerman +44 20 7060 2220
Hybridan LLP
Broker
Claire Louise Noyce +44 20 3764 2341
Kinlan Communications Tel. +44 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 net assets of US$53m 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
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