TMT Investments PLC Repayment of PeekYou note (6826D)
May 01 2013 - 2:00AM
UK Regulatory
TIDMTMT
RNS Number : 6826D
TMT Investments PLC
01 May 2013
1 May 2013
TMT INVESTMENTS PLC
("TMT" or the "Company")
Repayment of PeekYou note
TMT Investments PLC, which invests in high-growth internet-based
companies across a variety of sectors, announces that it has agreed
with its portfolio company PeekYou LLC ("PeekYou") that the entire
principal of the Company's convertible note in PeekYou, together
with all applicable interest, will be repaid to TMT in monthly
tranches by 1 December 2013.
TMT's original investment in PeekYou was made on 3 November 2011
and consisted of a US$123,671 unsecured convertible promissory note
in PeekYou.
Alexander Selegenev, Executive Director of TMT Investments PLC,
commented:
"PeekYou has recently decided to split into two different legal
entities, which would imply splitting the already smallest
investment in our portfolio even further. This would be cost
prohibitive for TMT from a portfolio management perspective.
Accordingly, the repayment of the note was viewed by the parties as
the most appropriate short-term decision. We are pleased to have
been able to support PeekYou in its development to date."
Definitive agreements for the transaction were entered into
yesterday.
For further information contact:
TMT Investments Plc +44 1534 281 843
Mr. Alexander Selegenev alexander.selegenev@tmtinvestments.com
www.tmtinvestments.com
ZAI Corporate Finance Ltd.
NOMAD and Broker
Marc Cramsie/Irina Lomova +44 20 7060 2220
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of sectors and has a significant number
of Silicon Valley investments in its portfolio. Founded in 2010,
TMT has raised USD28m and invested in 25 companies to date. The
company's objective is to generate an attractive rate of return for
shareholders, predominantly through capital appreciation. The
company is traded on the AIM market of the London Stock Exchange.
www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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