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TMT Investments PLC - Jersey-based venture capital investor in high-growth technology companies - Reports interim results at June 30. Net asset value per share and total NAV unchanged from December 31 at $6.62 per share and $208.1 million respectively. Reports pretax loss of $27,612, narrowed from $3.1 million a year ago. Administration costs rise to $661,876 from $641,077. At June 30, has cash and cash equivalent reserves of $9.9 million and no debt. Notes ‘divergence between good and poor performers during the period. Largest write down was Backblaze Inc which saw a $3.2 million, 12% devaluation. Notes $4.7m, over 11 times, increase in value of Praktika.AI during the period. Says will continue to target high-quality technology businesses with ’cautious investment approach‘. Executive Director Alexander Selegenev says: ’TMT is well positioned to ride out the current market volatility and to continue investing in companies that meet our investment criteria, while disposing of investments, in whole or in part, where there is an opportunity to maximise shareholder value.‘ Current share price: $2.75, closed up 2.6% in London on Thursday 12-month change: down 8.0% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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