Brief: TMT Investments Expects To Retain Access To All Its Funds In SVB

TMT Investments

13/03/2023 18:20

March 13 (Reuters) - TMT Investments PLC  TMTI.L :
    * UPDATE RE SILICON VALLEY BANK
    * CURRENTLY HAS TOTAL CASH AND CASH EQUIVALENTS OF
APPROXIMATELY
US$11.5M, OF WHICH APPROXIMATELY US$8M IS ON DEPOSIT WITH SVB
    * COMPANY HAS NO DEPOSITS WITH SILICON VALLEY BANK UK
LIMITED
    * EXPECTS TO RETAIN ACCESS TO ALL ITS FUNDS IN SVB
    * DEVELOPMENTS REGARDING SVB ARE NOT EXPECTED TO HAVE ANY
MATERIAL
IMPACT ON TMT'S FINANCIAL POSITION
    * CO'S 5 PORTFOLIO COMPANIES HAVE MATERIAL DEPOSITS WITH SVB
AND
FURTHER 6 HAVE MINOR DEPOSITS

Source text for Eikon:  ID:nRSM8112Sa 
Further company coverage:  TMTI.L