TMT Investments PLC Acquisition of Todoroo, Inc. (8545D)
May 02 2013 - 4:53AM
UK Regulatory
TIDMTMT
RNS Number : 8545D
TMT Investments PLC
02 May 2013
2 May 2013
TMT INVESTMENTS PLC
("TMT" or the "Company")
Acquisition of Todoroo, Inc.
TMT Investments PLC, which invests in high-growth internet-based
companies across a variety of sectors, is pleased to announce that
its portfolio company Todoroo, Inc. ("Astrid") has been acquired by
Yahoo! Inc.
The terms of the transaction documents preclude TMT from
disclosing the terms of the transaction until 2 July 2013. The
consideration receivable by TMT for the transaction represents an
increase from the latest book value of TMT's investment in
Astrid.
The transaction was completed on 1 May 2013.
TMT's original investment in Astrid was made on 12 April 2012
and consisted of an unsecured convertible promissory note in
Astrid.
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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