24th Sep 2019 16:37
(Alliance News) - Augmentum Fintech PLC on Tuesday said it has converted its investment in portfolio company Tide into equity, for a total uplift in the value of its investment of GBP4.2 million.
Augmentum invests in financial technology firms and held various convertible instruments in Tide, now converted into equity. The deal gives an implied revised evaluation of its Tide holding of around GBP14.2 million.
Such a valuation lifts the carrying value of Augementum's Tide investment by GBP4.2 million for an implied increase of 3.6 pence per share to Augmentum's most recent net asset value per share of 109.6p on March 31.
Augmentum's September 30 NAV will be calculated based on its valuation policy and is set to be reported in November.
Shares in Augmentum were up 0.9% at 107.98p on Tuesday just before market close.
By Anna Farley; [email protected]
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