19 October 2021
TMT INVESTMENTS PLC
("TMT" or the "Company")
Portfolio Update
TMT Investments Plc (AIM: TMT.L), the venture capital company investing in high-growth technology companies, is pleased to announce the following developments in the Company's portfolio since the publication of the Company's previous update on 5 October 2021.
Backblaze's proposed IPO
TMT notes that its portfolio company Backblaze, Inc. publicly filed with the SEC on 18 October 2021 (https://www.sec.gov/Archives/edgar/data/1462056/000119312521301141/d62601ds1.htm). TMT currently holds a 9.97% interest in Backblaze, Inc. (pre its expected fundraise, as stated in the SEC filing). Further announcements will be made in due course.
Acquisition of Hugo by Delivery Hero
On 14 October 2021, Delivery Hero SE, one of the world's leading local delivery platforms, announced that it had entered into an agreement with TMT's portfolio company, Hugo Technologies Ltd. ("Hugo"), to acquire its multi-category marketplace's core food delivery and quick commerce business. Founded in 2017, Hugo is currently active in over 40 cities across Guatemala, El Salvador, Honduras, Nicaragua, the Dominican Republic and Jamaica. The transaction is expected to close in Q1 2022 and is subject to relevant regulatory approvals. The proposed disposal by Hugo is expected to generate an uplift of approximately US$2 million in the fair value of TMT's investment in Hugo compared to the previous announced amount as of 30 June 2021.
New Investments
The Company has also made the following new and further investments:
· US$500,000 in Adorum, Inc., trading as OneNotary (www.onenotary.us), an online notary service; and
· Additional £1,000,000 in Feel Holdings Limited, a subscription-based multivitamin and supplement producer (www.wearefeel.com).
For further information contact:
| TMT Investments Plc Alexander Selegenev Executive Director
| +44 (0)1534 281 800 (Computershare - Company Secretary)
alexander.selegenev@tmtinvestments.com
|
| Strand Hanson Limited (Nominated Adviser) James Bellman / James Dance
| +44 (0)20 7409 3494 |
| Cenkos Securities plc (Joint Broker) Ben Jeynes
| +44 (0)20 7397 8900 |
| Hybridan LLP (Joint Broker) Claire Louise Noyce
| +44 (0)20 3764 2341 |
| Kinlan Communications David Hothersall
| +44 (0)20 7638 3435 |
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 a current investment portfolio of over 50 companies and net assets of US$218 million as of 30 June 2021. 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 announcement is released by TMT Investments plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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