IMIMobile: Intention to Float SPARK notes the announcement made today by IMIMobile Limited ("IMI") setting out its intention to seek admission of its shares to trading on AIM. IMI represents SPARK's largest current investment and the Company currently owns 27 per cent. of the issued share capital of IMI which was valued at £14.8 million on 30 September 2013. SPARK intends to realise a proportion of its investment as part of IMI's admission process.
Sale of remaining stake in Kobalt Music ("Kobalt") SPARK Ventures announces the sale of its remaining stake in Kobalt for net cash proceeds of £5.4m, thus substantially increasing the Company's cash balances. This brings SPARK's total proceeds from Kobalt to £19.2m from total investments of £4m, a multiple of 4.8 times the investment, and an IRR of 16%. SPARK was the founding investor in Kobalt in 2001 together with management. The buyers of SPARK's stake are a specialist US fund. Thomas Teichman, Chairman of SPARK Venture Management and Director of Kobalt Music said "We would like to thank Willard Ahdritz, Founder and CEO and his team for their outstanding commitment and determination, combined with technical and music expertise which has been the foundation of this world class independent music publishing and label business. Over a 13 year period since we first invested, these qualities have consistently shone through and resulted in ongoing success. Now Kobalt is the world's leading Independent music publisher."
SPARK Ventures announces the sale of its remaining stake in noths for net cash proceeds of £11.0m, thus substantially increasing the Company's cash balances. This brings SPARK's total returns to £12.8m from an initial investment of £0.7m in 2007/8, a multiple of 18 times the initial investment, an IRR of 65% and an 8% uplift to the previously disclosed book value.
A Monster Success! Moshi Monsters Hits 50 Million Registered Users Worldwide.
SPARK Ventures to realise its investment in Complinet.