TMT Investments PLC Investment in Anews, Inc. (9991P)
August 26 2014 - 5:19AM
UK Regulatory
TIDMTMT
RNS Number : 9991P
TMT Investments PLC
26 August 2014
26 August 2014
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in Anews, Inc.
TMT Investments PLC, which invests in high-growth,
internet-based companies across a variety of sectors, is pleased to
announce the completion of an investment in Anews, Inc.
(www.anews.com).
Incorporated in Delaware, Anews, Inc. ("Anews") is a rapidly
growing global news-reading service with a built-in behavioural
advertising network. Anews's unique technological platform allows
news media companies to expand their reach, acquire new users for
free and increase digital ad revenues. Anews provides each reader
with a consolidated, personalized view of news content from news
agencies, newspapers, magazines, blogs and social networks. Anews
has gained significant traction to date with an average monthly
audience growth rate of around 20%. Just ten months after launch,
the Anews mobile app has been downloaded 1.5 million times and the
Anews website has 1.7 million users.
According to eMarketer's projections, the global digital ad
revenue market is expected to reach US$140 billion in 2014,
representing a 16% annual growth rate.
As part of the current US$3 million equity fundraising, TMT has
acquired preferred shares in Anews for an aggregate consideration
of US$1,000,000. Assuming the current round is fully subscribed,
TMT will own 9.09% of Anews's fully diluted equity capital.
Anews was originally developed by 101 Startup, a company owned
by TMT's senior managers German Kaplun, Alexander Morgulchik and
Artyom Inyutin. Assuming the current round is fully subscribed, 101
Startup will own approximately 61.82% of Anews's fully diluted
equity capital.
Definitive agreements for the transaction were entered into, and
the transaction was completed, 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
Richard Morrison/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 USD30m and invested in over 35 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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