Notice of AGM (2052F)
April 19 2011 - 11:12AM
UK Regulatory
TIDMTMT
RNS Number : 2052F
TMT Investments PLC
19 April 2011
TMT INVESTMENTS PLC
("TMT" or the "Company")
Notice of Annual General Meeting
TMT announces that the report and accounts for the year ended 31
December 2010 has been posted to shareholders together with the
Notice of the Annual General Meeting ("Notice of AGM"). Pursuant to
Rule 26 of the AIM Rules, the report and accounts and the Notice of
AGM can be downloaded from the Company's website
www.tmtinvestments.com
The AGM has been convened for 11 a.m. (Moscow time) on 12 May
2011 and will be held at 23 Obrucheva Street, Moscow, Russia:
1. To receive the accounts of the Company for the period from
incorporation on 30 September 2010 to 31 December 2010 together
with the directors' report pursuant to Article 104 of the Companies
(Jersey) Law 1991 (as amended).
2. To receive the statement of the auditors made pursuant to
Section 110(2) of the Companies (Jersey) Law 1991 (as amended).
3. To approve the recommendation of the directors that no final
dividend be declared in respect of the period from incorporation on
30 September 2010 to 31 December 2010.
4. To reappoint Petr Lanin retiring as a director in accordance
with the Company's articles of association and, being eligible,
offering himself for reappointment as a director of the
Company.
5. To appoint UHY Hacker Young LLP as auditors of the Company in
accordance with Section 109(2) of the Companies (Jersey) Law 1991,
until the conclusion of the next general meeting of the Company at
which audited accounts are laid before members and to authorise the
Directors to determine their remuneration.
For further information contact:
TMT INVESTMENTS PLC
Mr. Alexander Selegenev +44(0)1534 281 843
www.tmtinvestments.com alexander.selegenev@tmtinvestments.com
ZAI Corporate Finance Ltd NOMAD and
Broker Richard Morrison, Irina
Lomova, Wei Wang 020 7060 2220
About TMT Investments
The Investment Policy & Strategy
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 financing.
In addition, the Company intends to invest in publicly traded
equities which have securities listed on a stock exchange or
over-the-counter market. These investments may be 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.
Private Companies
The Company will target small and mid-sized companies and will
seek to secure at least blocking stakes and board representation,
where it considers that the Company and/or an investee company
would benefit from such an appointment. The Company will consider
making equity investments in lower than blocking stakes only where
it sees ways to increase the stakes to blocking or controlling
stakes at a later date. Each investment is expected to be at least
US$250,000.
The investments targeted by the Company will aim to support
rapidly-growing private companies to increase market share and
achieve long-term shareholder value. It is envisaged that if the
Company invested in a private company prior to that company listing
on a stock market, the Company would retain a part of its
investment in the listed entity going forward. The Company intends
to work closely with the management of each investee company to
create value by focusing on driving growth through revenue
creation, margin enhancement and extracting cost efficiencies, as
well as implementing appropriate capital structures to enhance
returns.
Public Companies
When investing in public equities, the Company will seek to
select companies with a dominant market share or strong growth
potential in their respective segments. No restrictions will be
placed on the size of public companies in which the Company may
make an investment. The Directors intend to make investments in
companies or businesses with attractive valuation, growth
potential, with competent and motivated management, which enjoy
brand recognition, have scalable business models, have strong
relationships with customers and have in place transparent
accounting policies.
Realisation of Returns
The Directors will, when appropriate, consider how best to
realise value for Shareholders whether through a trade sale,
flotation or secondary refinancing of the investee companies. The
proposed exit route will form a key consideration of the initial
investment analysis.
The Company expects to derive returns on investments principally
through long-term capital gains and/or the payment of dividends by
investees. The primary ways in which the Company expects to realise
these returns include: (a) the sale or merger of a company; (b) the
sale of securities of a company by means of public or private
offerings; and (c) the disposal of public equity investments
through the stock exchanges on which they are listed.
For private investee companies the Company believes that its
typical investment holding period should provide sufficient time
for investee companies to adequately benefit from the capital and
operational improvements resulting from the Company's investment.
The targeted holding period shall be reviewed on a regular basis by
the Company, but it is expected that this will typically be between
two to four years. For public equities the Company's objective is
to maximise capital appreciation. Following the acquisition, the
Company will continue to conduct extensive research and monitoring
of the investment. Importance will be placed on the timing of any
disposal which will follow a thorough review of market conditions
and those reports and sources that are available to investors.
Should the Company consider that the capital appreciation of a
particular public equity investment has reached its peak or is
likely to or has begun to decline, then the Company will consider
the sale of that investment.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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