THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EC NO. 596/2014)
("MAR")
24 September 2019
Augmentum Fintech
plc
Portfolio Update -
Tide
Augmentum Fintech plc (LSE: AUGM) (“the Company”), the
UK’s only publicly listed investment company focusing on the
fintech sector, announces an update on the Company’s investment in
portfolio company Tide, the financial technology platform for small
businesses.
The Company’s investment in Tide comprised a number of
convertible instruments which have today been converted into equity
in Tide, implying a revised valuation of the Company's holding in
Tide of approximately £14.2 million.
This implied valuation would represent a total uplift of
approximately £4.2 million compared to the carrying value of the
Company’s investment in Tide (being the last reported fair value of
the Company’s holding of £4.975 million as at 31 March 2019 combined with the Company’s £5
million further investment into Tide in June
2019). The implied valuation equates to an increase of
approximately 3.6 pence per ordinary
share to the Company’s last reported net asset value (“NAV”) per
ordinary share of 109.6 pence as at
31 March 2019.
The Company's NAV and NAV per ordinary share as at 30 September 2019 will be calculated in
accordance with its valuation policy and are expected to be
reported in November 2019 in line
with the Company’s scheduled reporting timetable. Shareholders
should note that the calculation of the NAV per ordinary share as
at 30 September 2019 will take
account of the latest valuations of all of the Company's
investments. As such, this announcement does not constitute or
describe an updated NAV of the Company.
For further information please contact:
Augmentum Fintech
Tim Levene, Portfolio Manager
Nigel Szembel, Investor Relations |
+44 (0)20 3961 5420
+44 (0)7802 362 088 / nigel@augmentum.vc |
Peel Hunt
Liz Yong/Luke Simpson |
+44 (0)20 7418 8900 |
Frostrow
Victoria Hale, Company Secretary |
+44 (0)20 3170 8732
info@frostrow.com |
About Augmentum
Augmentum invests in fast growing fintech businesses that are
disrupting the banking, insurance, asset management and wider
financial services sectors. Augmentum is the UK’s only
publicly listed investment company focusing on the fintech sector
in the UK and wider Europe, having
launched on the main market of the London Stock Exchange in 2018,
giving businesses access to patient capital and support,
unrestricted by conventional fund timelines.