First Day of Trading

RNS Number : 7001X

TMT Investments PLC

10 December 2010

 



TMT INVESTMENTS PLC

("TMT" or the "Company")

FIRST DAY OF TRADING

PLACING OF US$ 20 MILLION AND ADMISSION TO AIM

10 December 2010

The Directors of TMT are pleased to announce that the ordinary shares of the Company (the "Ordinary Shares") have today commenced trading on AIM. The Ordinary Shares will trade under the ticker TMT and the Company's ISIN is JE00B3RQZ289. 

TMT is a new company incorporated under the laws of Jersey. The Company has been established for the purpose of identifying and acquiring, or making and disposing of investments in the TMT sector. The Company will primarily target companies operating in markets that the Directors believe have strong growth potential and having the potential to become multinational business. Although the Company can invest in any region of the world, the Directors and Consultants have expertise in emerging markets and in particular in Russia and the Commonwealth of Independent States.

On Admission, TMT will have no trading business, giving the Directors a platform to carry out a detailed examination of potential acquisition targets. The Directors' current intention is to make at least three investments within the first 18 months from Admission.

The Investment Case

The Directors believe that market conditions over recent years have proven difficult for certain businesses operating in the TMT Sector and that an opportunity now exists for acquiring and/or investing in such businesses so that their growth potential can be realised for the benefit of the Shareholders.

The Directors believe that recent volatility in the general economic markets and the TMT Sector has created a number of investment and acquisition opportunities and that a number of TMT businesses may be short of capital but yet have potentially highly valuable assets and operations. In addition, an increasing proportion of venture capital firms are shifting their focus to later-stage companies and follow-on investments in existing portfolio companies exacerbating the lack of capital available for early stage TMT companies. The Directors believe that they can take advantage of such opportunities and invest in companies on attractive valuation multiples. In the future, the Directors believe they can create value by sourcing further funds and experienced personnel, thereby positioning the Company to take further advantage of demand in the TMT Sector.

The Investment Policy 

The Company's objective is to generate an attractive rate of return for Shareholders, predominantly through capital appreciation, by taking advantage of opportunities to invest in the TMT Sector.

The Company aims to provide equity and equity-related investment capital, such as convertible loans, to private companies which are seeking capital for growth and development, consolidation or acquisition, or as a pre-IPO round of financing.

In addition, the Company intends to invest in companies in the TMT sector which have securities listed on a stock exchange or over-the-counter market. These investments may be made in combination with additional debt or equity-related financing, and in appropriate circumstances in collaboration with other value added financial and/ or strategic investors.

The Company is not geographically restricted in terms of where it will consider making investments. It will consider any geographical area, to the extent that the investment fits within the Company's investment criteria. The Directors and Consultants have expertise in emerging markets and, in particular, in Russia and the Commonwealth of Independent States. The Company will not be subject to any borrowing or leveraging limits.

The Company has placed 20,000,000 shares at US$1 to raise US$20 million of new capital. On Admission, the Company will have 20,000,002 Ordinary Shares in issue and a market capitalization of approximately US$20 million at the Placing Price.

ZAI Corporate Finance has been appointed as Nominated Adviser and Broker to the Company.

A copy of the admission document and relevant information provided under AIM Rule 26 is available from the Company's website at www.tmtinvestments.com

For further information contact:

TMT INVESTMENTS PLC Mr. Alexander Selegenev www.tmtinvestments.com	[phone]
ZAI Corporate Finance Ltd NOMAD and Broker Ray Zimmerman / Richard Morrison  / Irina Lomova / Wei Wang	020 7060 2220

Board of Directors

Alexander Selegenev, Executive Director

Alexander Selegenev has over 10 years experience in investment banking, with specific expertise in international corporate finance, equity capital markets and mergers and acquisitions.  Between 2004 and 2008 Alexander was Head of the London Corporate Finance Department at Metropol (UK) Limited, the London affiliate of Russia's investment and financial company IFC Metropol. Between 2001-2004, he served as Senior Manager in the International Corporate Finance Department with Teather & Greenwood Limited, a London-based AIM nominated adviser and broker. During his time at Metropol and Teather & Greenwood he worked on over 10 AIM IPOs and over 20 private equity and merger and acquisition transactions including those in the TMT Sector. Alexander has also worked for two leading Japanese Investment banks, Daiwa Securities SMBC Europe Limited and Sumitomo Bank Limited. He has an MSc (Hons) and a BSc (Hons) in Business from the Peoples' Friendship University of Russia in Moscow and a Bachelor of Business Studies (Major in Management) from Monash International University in Australia.

James Joseph Mullins, Independent Non-Executive Director

James Mullins has over 25 years experience in finance and is a director of numerous funds and companies including the Russian Federation First Mercantile Fund. The Fund (Class A shares) is listed on the Bermuda Stock Exchange. His experience in the UK includes working for Deloitte & Touche and British Coal. In Russia he was head of the Corporate Restructuring Department at Coopers & Lybrand and later co-founded Branan Management Consultants. From 2004 to 2007, he was the Finance Director at Rambler Media and was one of the key players in its successful admission on AIM. He has been a Partner in First Mercantile since 2001. He was previously Deputy Chairman of the Association of European Businesses in Russia. He is currently Chairman of the Scottish Salmon Company, which is listed on the Oslo Børs. He is a Fellow of the Chartered Association of Certified Accountants and he holds a Bachelor of Science degree and a Master of Arts degree from Trinity College, Dublin.

Petr Vladimirovich Lanin, Non-Executive Director

Petr Lanin has broad experience in investment and brokerage on the Russian capital markets. He began his career as an equity analyst in the Russian information agency "RosBusinessConsulting" ("RBC") in 1995. Between 1996 -2000 he served as chief of the share department in Makprombank. Between 2000 and 2006 he held the position of general director of the investment company "Maxwell Capital".  Following his appointment as general director of "Maxwell Asset Management" in 2003, Mr. Lanin was key in the establishment and management of many investment funds. He was also one of the managing directors of the venture capital fund "Maxwell Biotech" which is a closed mutual fund set up and operated by Maxwell Asset Management. In 2008, Maxwell Asset Management established a UK FSA subsidiary in which Petr Lanin held a controlled function. At present, Petr is a chief of the Purchases and Supply Department in Federal State Organisation "Clinical hospital #1". Petr holds an MBA degree in finance and credit from the Plekhanov Russian Academy of Economics.

The Company has currently secured the services of the following Consultants:

German Kaplun

Mr Kaplun began his career in software consulting and has previously held the position of Director of Banking Technology at a Moscow-based software development company. In 1993 he and Alexander Morgulchik co-founded RBC, a leading Russian media and internet company, which conducted Russia's first successful IPO on MICEX and RTS in April 2002. Mr Kaplun has broad experience in media, banking, software, consulting and real estate. He is currently Chief Executive Officer of RBC. German Kaplun holds a Master of Science degree from the Moscow State Institute of Radio Engineering, Electronics and Automation. Mr Kaplun was awarded a Ph.D. in Economics from the Russian Economic Academy

Alexander Morgulchik

Mr Morgulchik has an extensive background in accounting and banking, and has participated in a number of commercial ventures. These include a small bank, a computer hardware/software business and a real estate company. In 1993 he and German Kaplun co-founded RBC.  Before concentrating solely on RBC in 1998, Mr Morgulchik was a Director and Partner at Orgtechnica, a Moscow-based independent hardware and software distributor. Alexander Morgulchik holds a Master's degree and a Ph.D. in Economics from the Russian Economic Academy.

Defined terms in this announcement have the same meaning as the Admission document.

 

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