Wanelo, Inc. - New equity financing

RNS Number : 9033F

TMT Investments PLC

30 May 2013

 



30 May 2013

TMT INVESTMENTS PLC

("TMT" or the "Company")

Wanelo, Inc. - New equity financing

TMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that on 29 May 2013 its portfolio company Wanelo, Inc. ("Wanelo") confirmed that it had recently completed the initial closing of an equity financing round led by a number of prominent investors.

After the new equity financing is completed, TMT will hold approximately 4.71% of Wanelo's fully-diluted equity capital.

The transaction implies an approximately US$5 million uplift in the fair value of TMT's investment in Wanelo, compared to the latest reported amount as of 31 December 2012.

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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