Acquisition of Todoroo, Inc.

RNS Number : 3479I

TMT Investments PLC

02 July 2013

 



2 July 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Acquisition of Todoroo, Inc.

Further to the Company's announcement on 2 May 2013, TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to confirm that the maximum consideration receivable by TMT as part of the acquisition of its portfolio company Todoroo, Inc. ("Astrid") by Yahoo! Inc. is US$673,665.75, subject to deductions in the event of breaches of certain representations and warranties by Astrid.

TMT's original investment in Astrid was made on 12 April 2012 and consisted of an unsecured convertible promissory note in Astrid.

The transaction was completed on 1 May 2013.

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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