Conversion of promissory note in Wrike, Inc.

RNS Number : 4572I

TMT Investments PLC

03 July 2013

 



3 July 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Conversion of promissory note in Wrike, Inc.

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that the outstanding principal and unpaid accrued interest of the Company's convertible promissory note in Wrike, Inc. ("Wrike") amounting to US$1,080,000 was yesterday converted into Wrike's common shares.  As a result, TMT currently owns 6.32% of Wrike's fully diluted equity capital.

TMT's original investment in Wrike was made on 12 June 2012 and consisted of a US1,000,000 unsecured convertible promissory note in Wrike.

Wrike is leading on-demand, online project management and collaboration software.  It provides teams with a unique platform for collaborating on multiple projects in one workspace in real time.  Wrike's collaboration features give a significant productivity gain to thousands of companies all over the globe, including Adobe, EMC and Ecco.  Wrike is a privately held corporation located in California.

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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