TMT Investments PLC Acquisition of Todoroo, Inc. (3479I)
July 02 2013 - 2:00AM
UK Regulatory
TIDMTMT
RNS Number : 3479I
TMT Investments PLC
02 July 2013
2 July 2013
TMT INVESTMENTS PLC
("TMT" or the "Company")
Acquisition of Todoroo, Inc.
Further to the Company's announcement on 2 May 2013, TMT
Investments PLC, which invests in high-growth internet-based
companies across a variety of sectors, is pleased to confirm that
the maximum consideration receivable by TMT as part of the
acquisition of its portfolio company Todoroo, Inc. ("Astrid") by
Yahoo! Inc. is US$673,665.75, subject to deductions in the event of
breaches of certain representations and warranties by Astrid.
TMT's original investment in Astrid was made on 12 April 2012
and consisted of an unsecured convertible promissory note in
Astrid.
The transaction was completed on 1 May 2013.
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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