Issue of Equity

RNS Number : 5066Z

TMT Investments PLC

07 March 2013

 

7 March 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Equity capital raise

The Board of TMT, which invests in high-growth, internet-based companies across a variety of sectors, is pleased to announce that it has today allotted 750,398 new ordinary shares of no par value each in the Company ("TMT Shares") to new investors at a price of US$1.5 per share, being a discount of 12% over the closing price of TMT Shares on 6 March 2013 and raising US$1,125,000.

Alexander Selegenev, Executive Director of TMT Investments PLC, commented: "Given the Company's limited free float, we are glad to have used this opportunity to raise additional capital from a group of smaller qualified investors.  We believe increasing liquidity in the Company's shares is in the long-term interest of the Company's shareholders.  In addition, we have a strong pipeline of new projects, and the additional capital will be handy in supporting our continuing growth strategy."

The new TMT Shares will rank pari passu with existing TMT Shares and application has been made for these new TMT Shares to be admitted to trading on AIM, which is expected to occur on 13 March 2013.

Following the issue of the new TMT Shares, the Company now has a total of 25,393,258 TMT Shares in issue.  Spotlight Global Corp. now has a holding of 1,966,666 TMT Shares, representing 7.74% of the enlarged issued share capital.

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, TMT has raised USD28m and invested in 23 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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