Pipedrive partial exit and revaluation

RNS Number : 1275H
TMT Investments PLC
27 November 2015
 

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

Mr. Alexander Selegenev

www.tmtinvestments.com

 

+44 1534 281 843

alexander.selegenev@tmtinvestments.com

 

ZAI Corporate Finance Ltd.

NOMAD and Broker

Richard Morrison/Irina Lomova

 

+44 20 7060 2220

Kinlan Communications

David Hothersall

 

Tel. +44 20 7638 3435

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
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