Revaluation of Investment in Virool, Inc

RNS Number : 8825A

TMT Investments PLC

01 October 2015

 



1 October 2015

TMT INVESTMENTS PLC

("TMT" or the "Company")

Revaluation of investment in Virool, Inc.

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that its portfolio company Virool, Inc. ("Virool") has recently completed a sizable equity financing round.

The transaction represents an approximately US$1.31 million (or 161%) uplift in the fair value of TMT's investment in Virool, compared to the latest announced amount as of 30 June 2015, and is equivalent to 4.7 cents in additional net asset value per TMT share.

For further information contact:

TMT Investments Plc Mr. Alexander Selegenev www.tmtinvestments.com	[phone] [e-mail]
ZAI Corporate Finance Ltd. NOMAD and Broker Richard Morrison/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 net assets of US$42m and has invested in just under 40 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

About Virool

Virool, Inc has developed a self-service platform that allows video creators to distribute videos that are over 30 seconds long to targeted audiences across Virool's network of online publishers, blogs, social games and mobile apps. Virool has developed an application that makes it very easy for publishers on Facebook, iOS, Android, blogs or other media channels to plug into Virool network and start making money by providing advertising space.

 

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