Repayment of PeekYou note

RNS Number : 6826D

TMT Investments PLC

01 May 2013

 



1 May 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Repayment of PeekYou note

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, announces that it has agreed with its portfolio company PeekYou LLC ("PeekYou") that the entire principal of the Company's convertible note in PeekYou, together with all applicable interest, will be repaid to TMT in monthly tranches by 1 December 2013.

TMT's original investment in PeekYou was made on 3 November 2011 and consisted of a US$123,671 unsecured convertible promissory note in PeekYou.

Alexander Selegenev, Executive Director of TMT Investments PLC, commented:

"PeekYou has recently decided to split into two different legal entities, which would imply splitting the already smallest investment in our portfolio even further. This would be cost prohibitive for TMT from a portfolio management perspective.  Accordingly, the repayment of the note was viewed by the parties as the most appropriate short-term decision.  We are pleased to have been able to support PeekYou in its development to date."

Definitive agreements for the transaction were entered into yesterday.

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 25 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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