TMT Investments (LON:TMT) to Repurchase $0.00 in Shares

TMT Investments (LON:TMT) declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 20th, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

TMT Investments Trading Up 2.0%

Shares of TMT traded up GBX 0.05 during trading hours on Wednesday, hitting GBX 2.50. 48,179 shares of the stock traded hands, compared to its average volume of 19,589. TMT Investments has a 1-year low of GBX 2.06 and a 1-year high of GBX 3.55. The business has a fifty day moving average of GBX 2.37 and a 200-day moving average of GBX 2.57. The firm has a market capitalization of £770,000.00, a PE ratio of 0.05 and a beta of 0.94.

About TMT Investments

Admitted to AIM in 2010, TMT Investments Plc manages a global investment portfolio of over 50 tech companies focused primarily on Big Data/Cloud, SaaS (software-as-a-service), Mobility, and FinTech, representing net assets of US$206 million at end December 2024. The Company’s objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. It seeks to realize its investments through the sale or merger of a company; the sale of securities of a company by means of public or private offerings; or the disposal of public equity investments through the stock exchanges on which they are listed.

Since inception, TMT’s portfolio has generated US$113m worth of full and partial profitable exits, of which a number were landmark multi-million dollar exits, and a 14.3% IRR (internal rate of return).

TMT’s largest holdings include mobility company Bolt, fintech 3S Money and cloud storage company Backblaze (quoted on NASDAQ).

Substantial cash exits from the exit of Wrike ($23m in 2018), Pipedrive (US$44.4m in 2020) and Depositphotos (initial cash exit consideration of US$12.9m in 2021), together with other cash exits and the proceeds of the Company’s fund raise conducted in October 2021 (which raised US$19.3m before expenses), have been reinvested into earlier and mid-stage companies as part of planning the next generation of the portfolio’s potential winners.