Gild, Inc. - New equity financing

RNS Number : 5830X

TMT Investments PLC

11 February 2013

 



11 February 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Gild, Inc. - New equity financing

TMT is pleased to announce that on 8 February 2013, its portfolio company Gild, Inc. ("Gild") completed the initial closing of an equity financing round led by existing shareholder Globespan Capital Partners and a number of other prominent investors. 

After the new equity financing is completed, TMT will hold approximately 1.31% of Gild's fully-diluted equity capital.

The transaction implies an approximately 15% uplift in the fair value of TMT's investment in Gild, compared to the latest reported amount as of 30 June 2012.

TMT's original investment in Gild was made on 5 December 2011 when TMT acquired preferred shares representing 3.56% of Gild's fully diluted equity capital at the time for an aggregate net consideration of US$315,250. 

Gild's recruiting solutions are aimed at changing the way companies find and engage the talented software developers they need.  With rankings and information on the technical skills of over 400,000 developers, combined with social media profiling insights, Gild's objective is to dramatically cut recruiting costs and improve hiring efficiency.

For further information contact:

TMT Investments Plc Mr. Alexander Selegenev www.tmtinvestments.com	[phone] [e-mail]
ZAI Corporate Finance Ltd. NOMAD and Broker Marc Cramsie/Irina Lomova	[phone]
Kinlan Communications David Hothersall	Tel. [phone] [e-mail]

About TMT Investments

TMT Investments PLC invests in high-growth, internet-based companies across a variety of sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010 and with capital firepower of USD26m, TMT has invested in 22 companies to date. The company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com

 

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