Investment in Wanelo-update (7709U)

TIDMTMT

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          +44(0)1534 281 843 
 Mr. Alexander Selegenev      alexander.selegenev@tmtinvestments.com 
 www.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

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