Investment in Wanelo-update

RNS Number : 7709U

TMT Investments PLC

30 December 2011

 

TMT INVESTMENTS PLC

("TMT" or the "Company")

Investment in Wanelo Inc. - improved terms

Further to the announcement made on 22 November, the Board of TMT is pleased to announce an improvement in the terms of its investment in Wanelo Inc. ("Wanelo"), the early-stage social e-store.

In order to reflect the better terms agreed with a group of new investors, who invested $1.35 million in new preferred shares in Wanelo after TMT's initial investment, TMT has been issued additional new preferred shares in Wanelo for zero consideration.  As a result, TMT's fully diluted equity stake in Wanelo has increased from 5.66% to 6.53%.

30 December 2011

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	020 7060 2220

 

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