Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TMT INVESTMENTS PLC. We currently have 11 research reports from 1 professional analysts.
|18Jan17 14:20||RNS||Revaluation of investment in Pipedrive, Inc.|
|21Oct16 14:34||RNS||Director/PDMR Shareholding|
|20Oct16 17:05||RNS||Significant Shareholdings|
|12Oct16 07:00||RNS||Letter to shareholders|
|04Oct16 07:00||RNS||Dividend Declaration|
|07Sep16 13:04||RNS||Significant Shareholdings|
|24Aug16 07:00||RNS||Half-year Report|
Frequency of research reports
Research reports on
TMT INVESTMENTS PLC
TMT INVESTMENTS PLC
A growth and value opportunity
14 Feb 17
Shares in TMT are some 20% off their year highs and trading at an 11% discount to the last reported NAV of $1.91/share as at 30 June 2016. News flow since then suggests continued positive performance of the portfolio, with the most significant reported value event being the recent revaluation of Pipedrive accretive to NAV per share by circa 14.7c. TMT invests in high growth private companies and as such valuation events are relatively infrequent for its investee companies. Anecdotal evidence from some of TMT’s portfolio suggests that there remains significant value to be unlocked from certain investments, that will not yet meet the criteria for being recognised in the portfolio valuation as at December 2016. We highlight the key news events both reported by TMT, and those relating to its portfolio companies that we have identified since the last audited NAV was published.
Small Cap Breakfast
19 Jan 17
SuperAwesome — The London based specialist in e-compliance is considering an IPO in its home town according to City A.M. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January
More value to unlock from high growth portfolio
25 Aug 16
The investor in high-growth, internet-based companies across a variety of core specialist sectors has released interim results to June 2016. Following a relatively quiet half in terms of valuation events, NAV/share remains unchanged at $1.91m. However, cash balances have been greatly reinforced by the $5.85m partial exit of Deposit Photos. This represents an approximately 5.5 times increase in the valuation of TMT's holding in Depositphotos since its original investments, or 18% since December 2016. This more than offsets impairments in WhalePath and Adinch. The cash injection has led to a much improved period end cash balance of $5.92m and facilitated three in-period investments totaling $650k and a further three postperiod investments totaling $800k. The fair value of TMT’s investments can lag the underlying growth of these exciting tech companies as valuation reviews are driven largely by funding rounds and exits. TMT expects a number of positive revaluations of its investee companies in the future and we highlight the growth profiles of some selected investments below.
Hybridan - Small Cap Wrap
01 Jul 16
AKR Distribution Agreement, AVCT Affimer Binders, AVG Return of Funds, PRSM Interim Results, COG* Distribution Agreement, FISH Placing, FITB* Board Changes, Placing and Loan Capitalisation, FUM Agreements, HCM Phase II, IGE Agreement, LRM Selected, NWF Trading Updated, PLI* Fast Track, SCH Trading Update, TMT* Invests
Active management and new opportunities
01 Jun 16
Against a market backdrop where tech IPOs in the United States have virtually ground to a halt, TMT Investments is still managing to make profitable exits and gain access to innovative opportunities to invest in high growth internet based companies. This is thanks to its solid connections in the world of private tech investing.
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
Industry fundamentals remain positive
21 Feb 17
The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.
Middle Britain growth
21 Feb 17
The Company has achieved our 2017 estimate in 2016 with EBITDA of £2.2m, up 37% on 2015. We upgrade our estimates by 10% at the EBITDA level in 2017. If the shares traded even at the lower end of comparators, they would trade at 17p. We expect the share price to reach our upgraded 17p price target in the short term. Few companies enjoy the unique positioning which Lighthouse has to benefit from the assets of Middle Britain.
Marked confidence in profitability resilience
22 Feb 17
LBG posted a good set of results at the operating level. Management showed its confidence in the group’s ability to protect its indecent profitability levels over the next three years by recommending an increased ordinary dividend and the payment of a special dividend, and by setting a stable return on required equity objectives.
N+1 Singer - Morning Song 21-02-2017
21 Feb 17
Abzena (ABZA LN) Contract bookings strong; US costs higher than expected | City of London Investment Group (CLIG LN) Earnings and interim dividend in line, some modest growth in FuM | dotdigital Group (DOTD LN) Good H1; broadening avenues of growth | Grafenia (GRA LN) Weak print volumes | Vernalis (VER LN) Interims highlight increasing Tuzistra™ scrip volume
Lloyds, Best Of The Banks
23 Feb 17
Lloyds Banking Group PLC (LLOY) reported a strong result for FY-16, which has allowed it to pay a special dividend, plus has encouraged the UK government to reduce its stake in the bank to below 5%. Lloyds’ acquisition of the MBNA credit card business is proceeding on track, with all key M&A metrics being well satisfied. The outlook for Lloyds’ capital base, its profitability and thus the dividend prospects have all improved. This encourages us to ascribe a Buy rating to the stock, with a target price of 80p per share, derived from a prospective Price / Book value of 1.3x and a P/E ratio of 13x which we think are justifiable ratios.