Appointment of Chairman (9544H)
June 06 2011 - 12:36PM
UK Regulatory
TIDMTMT
RNS Number : 9544H
TMT Investments PLC
06 June 2011
TMT INVESTMENTS PLC
("TMT" or the "Company")
Appointment of Chairman
The Board of TMT is pleased to announce the appointment of Yuri
Mostovoy as Chairman of the Board with immediate effect.
Yuri Mostovoy, aged 67, has a broad range of experience in
investment banking and commerce.
He is currently a director of OJSC Armada, a leading independent
software development and IT service provider in Russia. He is the
owner of Interval LLC, a company that develops advanced investment
portfolio management systems, and Buballo LLC
(http://bubbalon.com/about). Also he is a Member of the Advisory
Board of Global Advertising Strategies, Inc.
In the past, Mr. Mostovoy was a founding shareholder and
director of Supercompilers LLC (http://www.supercompilers.com/),
the company engaged in the development of new technology, which
increases the speed of Java-programs.
At different points in his career, he was employed as Head of
Development in the Fixed Income Quantitative Research Department at
Lehman Brothers, Global Head of Quantitative Fixed Income Research
at Barclays Capital, and Vice President of Citibank (New York). Mr.
Mostovoy was also involved in a number of successful capital raises
for companies in Russia.
In April 2010 Mr Mostovoy started Optoguide Inc, a Delaware
medical device start up company, aiming to bid for a license from
Harvard University. The company was dissolved in November 2010
after losing the bid.
In addition, he was on the board of directors of Gallery Media
Group Ltd, an outdoor advertising operator in Russia, and from 2002
to 2005 was a member of RBC Media's board of directors where he
worked with Alexander Morgulchik and German Kaplun, who currently
act as consultants to TMT.
Yuri completed his Ph.D. at the Moscow Aviation Institute in
1972 and has a M.Sc. in Electrical Engineering from that same
institution.
Yuri is primarily based in the USA and Italy.
Current and Past Directorships include:
Current Directorships Past Directorships
----------------------- -------------------------------
47 Priory Road Limited 109 Valley Road Associates LLC
----------------------- -------------------------------
Buballo LLC Anna Rossa Design Limited
----------------------- -------------------------------
Interval LLC Art Technology Group Limited
----------------------- -------------------------------
OJSC Armada Gallery Media Group Ltd
----------------------- -------------------------------
Green Tara Center LLC
----------------------- -------------------------------
Optoguide Inc
----------------------- -------------------------------
Supercompilers LLC
----------------------- -------------------------------
Mr Mostovoy was a director of Gallery Media Group Ltd
("Gallery") until 8 May 2009. On 06 October 2009, Gallery reached
agreement with a committee representing the majority of holders of
the $175 million 101/8 per cent. senior secured notes due 2013 in
relation to the restructuring of the group's financial liabilities.
Under the terms of the restructuring, Gallery's total indebtedness
was reduced from $342.2 million to $100.3 million, while holders of
$161.5 million face value of the senior secured notes received 68
per cent. of the equity in a new holding company (Gallery Media
Holding Limited) and 90 per cent. of 10 per cent. new notes due
2015. The restructuring was implemented by way of two schemes of
arrangement in the English courts (the "Schemes"). $13.5 million
face value of old senior secured notes held by Group were cancelled
as part of the Schemes. The Schemes were approved by the Scheme
Creditors on 18 May 2010 and sanctioned by the High Court of
Justice of England and Wales at a fairness hearing held on 26 May
2010.
Mr Mostovoy does not hold any shares in TMT.
No further disclosures are required to be made in relation to Mr
Yuri Mostovoy under Schedule 2 (g) (iii) - (viii) of the AIM
rules.
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
Marc Cramsie/Irina Lomova 020 7060 2220
This information is provided by RNS
The company news service from the London Stock Exchange
END
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