TIDMTMT
RNS Number : 3341J
TMT Investments PLC
29 March 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, SOUTH AFRICA,
NEW ZEALAND OR SINGAPORE OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN ADMISSION DOCUMENT AND DOES NOT CONSTITUTE OR FORM
PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY
SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY
ORDINARY SHARES IN THE CAPITAL OF THE COMPANY, NOR SHALL IT (OR ANY
PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR
BE RELIED ON IN CONNECTION WITH OR ACT AS ANY INDUCEMENT TO ENTER
INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014 ("MAR"). IN
ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN
RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT,
WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE
INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH
PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE
INFORMATION.
29 March 2018
TMT INVESTMENTS PLC
("TMT" or the "Company")
Placing of 1,276,260 new ordinary shares of no par value each
and
proposed Share Subscription of up to 164,609 ordinary shares of
no par value each at US$2.43
TMT Investments PLC, the venture capital company investing in
high-growth, technology companies across a number of core
specialist sectors, is pleased to announce that it has today issued
allotted 1,276,260 new ordinary shares of no par value each in the
Company ("Placing Shares") to certain institutional and other
investors at a price of US$2.43 per share (the "Placing Price")
(the "Placing"). Hybridan LLP acted as Broker to the Company in
connection with the Placing. The Company is also proposing to issue
up to a further 164,609 new ordinary shares of no par value
("Subscription Shares") to certain existing shareholders (or their
related parties) at the Placing Price (the "Subscription").
The Placing and the Subscription will, in aggregate, raise
US$3.5 million before expenses. The Placing Price is equivalent to
the Company's Net Asset Value per share, as stated in the final
results, announced on 15 March 2018, and represents a discount of
approximately 27.3% to the closing mid-market price of TMT ordinary
shares on 28 March 2018.
Since TMT's admission to trading on AIM in December 2010, it has
invested US$32 million in over 40 companies. To date, it has
realised US$13 million from the full or partial exit of certain of
those investments. Since the Company's first investment in June
2011, the reported NAV per share has increased from US$0.97 per
share to US$2.43, an IRR over that period of approximately 15.0%.
The Company has identified a number of further investment
opportunities, including potential follow-on investments into
existing holdings.
The net proceeds of the Placing and the proposed Subscription
will be approximately US$3.32 million which will be used to make
further investments, and to support the Company's wider working
capital requirements. These funds are expected to be supplemented
by anticipated further exits from certain of the Company's existing
portfolio holdings over the coming months.
Alexander Selegenev, Executive Director of TMT Investments PLC,
commented:
"We are delighted by the support from new and existing investors
and welcome a major UK institution to the register. The Company is
increasingly recognised as one of very few AIM-quoted vehicles
providing UK investors with exposure to earlier stage, primarily
US-based, tech companies.
The use of proceeds will be directed towards investing in
additional exciting companies that meet our investment criteria of
having outstanding management teams and globally scalable business
models. We look forward to updating the market on our activities in
due course."
The Placing Shares will rank pari passu with existing TMT
ordinary shares and application has been made for the Placing
Shares to be admitted to trading on AIM, which is expected to occur
on 6 April 2018.
Following the issue of the Placing Shares, and assuming the
maximum subscription for the Subscription Shares the Company's
issued share capital will comprise 29,185,831 ordinary shares. No
TMT ordinary shares are held in Treasury. From Admission for the
figure of 29,185,831 ordinary shares may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
For further information contact:
TMT Investments PLC +44 1534 281 843
Alexander Selegenev alexander.selegenev@tmtinvestments.com
Executive Director
www.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 +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 invested in over 40 companies to date and has latest
announced net assets of US$67m. 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
IOEPGUWCWUPRUGB
(END) Dow Jones Newswires
March 29, 2018 02:01 ET (06:01 GMT)
Tmt Investments (LSE:TMT)
Historical Stock Chart
From Jul 2024 to Aug 2024
Tmt Investments (LSE:TMT)
Historical Stock Chart
From Aug 2023 to Aug 2024