Business
Revaluation of investment in Taxify
Revaluation of investment in Taxify.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 6592M TMT Investments PLC 01 August 2017 \n\n1 August 2017\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nRevaluation of investment in Taxify\n \nTMT 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.\n \nThe 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.\n \nAlexander 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.\"\n \nAbout Taxify\nLaunched 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.\n \n \nFor further information contact:\n \n\n\n\n\nTMT Investments plc\nAlexander Selegenev\nExecutive Director\nwww.tmtinvestments.com\n \n\n\n+44 1534 281 843\[email protected]\n \n\n\n\n\nZAI Corporate Finance Ltd.\nNOMAD\nDugald Carlean/Ray Zimmerman\n \n\n\n+44 20 7060 2220\n\n\n\n\nHybridan LLP\nBroker\nClaire Louise Noyce\n \n\n\n+44 20 3764 2341\n\n\n\n\nKinlan Communications\nDavid Hothersall\n \n\n\nTel. +44 20 7638 3435\[email protected]\n\n\n\n\n \n \nAbout TMT Investments Plc\n \nTMT Investments PLC invests in high-growth technology companies across a number of core sp...