TMT Participation in Telegram Group, Inc. Pre-ICO

RNS Number : 4437F

TMT Investments PLC

21 February 2018

 

21 February 2018

TMT INVESTMENTS PLC

("TMT" or the "Company")

TMT Participation in Telegram Group, Inc. Pre-ICO

TMT Investments PLC (AIM: TMT.L), the venture capital company investing in high-growth technology companies across a number of core specialist sectors, is pleased to confirm its first blockchain related investment through participation in the recent pre-ICO (initial coin offering) conducted by Telegram Group, Inc. ("Telegram"). Telegram is an established global messaging platform with over 200 million users around the world https://telegram.org 

The recent pre sale of Telegram's tokens raised US$850m in fiat currency (the "Telegram pre-ICO") according to a filing submitted by Telegram to the US Securities and Exchange Commission ("SEC") on 13 February 2018. The Telegram pre-ICO was offered exclusively to a circle of investors selected by Telegram. TMT believes that demand for the Telegram pre-ICO was driven by the fact that Telegram is a well-established global messaging platform rather than a startup ICO issuer.

The funds have been raised for the development of the Telegram Open Network (or TON Blockchain), the development and maintenance of Telegram Messenger and the other purposes according to the SEC filed document.

Alexander Selegenev, Executive Director of TMT, commented: "We are delighted to have gained early access to this pre-ICO offering, which is also our first blockchain investment. Our investment focus at TMT is on identifying truly scalable companies at an early stage that have outstanding management teams. We believe that the Telegram pre-ICO meets all three of these requirements and provides our shareholders access to this opportunity through publicly traded TMT, and ahead of any general public ICO which Telegram may pursue later in the year".

Alexander Selegenev added: "The Telegram pre-ICO is a welcome addition to our diversified portfolio, which includes ride-hailing service Taxify https://taxify.eu/, B2B sales management software Pipedrive https://www.pipedrive.com/en-gb and perfume and cosmetics online subscription retailer Scentbird https://www.scentbird.com/".

TMT's investment in the Telegram pre-ICO was made from the Company's existing cash balances in an amount below 1% of TMT's net asset value as at 30 June 2017.

For further information contact:

TMT Investments PLC Alexander Selegenev Executive Director www.tmtinvestments.com	[phone] [e-mail]
Smith & Williamson Corporate Finance Ltd Nominated Adviser Russell Cook David Jones Ben Jeynes	[phone]
Hybridan LLP Broker Claire Louise Noyce	[phone]
Kinlan Communications David Hothersall	[phone] [e-mail]

About TMT Investments PLC

TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT had net assets as at 30 June 2017 of US$58m and has invested in over 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

 

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