02 May 2012
TMT INVESTMENTS PLC
("TMT" or the "Company")
The One-Page Company, Inc. - Conversion of promissory note
TMT is pleased to announce that on 01 May 2012, its portfolio company The One-Page Company, Inc. ("One-page") raised US$1.0 million in a series A equity financing led by Blumberg Capital ("Series A"). According to the terms of the Company's convertible promissory note in One-Page (the "Note"), the outstanding principal and unpaid accrued interest of the Note amounting to US$244,293.84 was converted into One-Page's preferred shares at an equity valuation equal to 80% of the equity valuation of One-Page applicable to the Series A financing. As a result, TMT currently owns 305,642 preferred shares in One-Page representing 6.09% of One-Page's fully diluted equity capital.
TMT's original investment was made on 6 February 2012 and consisted of a US$242,500 unsecured convertible promissory note in One-Page.
TMT's Executive Director Alexander Selegenev said: "The latest equity fundraising is an important vote of confidence in One-Page's business model and management team, and the new funds will provide additional firepower for the company's future growth. We are pleased that this opportunity to convert our Note on favourable terms has allowed us to increase the fair value of our investment in One-Page by 25% after only 3 months."
One-Page (www.1-page.com) is an early-stage company building corporate software-as-a-service ("SaaS") solutions and consumer Internet proposal platform that enables users to systematically create, solicit, distribute, and negotiate one-page proposals between individuals and companies from anywhere around world.
For further information contact:
TMT INVESTMENTS PLC Mr. Alexander Selegenev
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+44(0)1534 281 843 alexander.selegenev@tmtinvestments.com
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ZAI Corporate Finance Ltd NOMAD and Broker Marc Cramsie/Irina Lomova
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020 7060 2220 |
Kinlan Communications David Hothersall
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Tel. +44 (0) 20 7638 3435 |