Investment in One-Page

RNS Number : 5592C
TMT Investments PLC
02 May 2012
 

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

www.tmtinvestments.com

 

+44(0)1534 281 843

alexander.selegenev@tmtinvestments.com

 

ZAI Corporate Finance Ltd

NOMAD and Broker

Marc Cramsie/Irina Lomova

 

020 7060 2220

Kinlan Communications

David Hothersall

 

Tel. +44 (0) 20 7638 3435

davidh@kinlan.net

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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