TMT Investments PLC Revaluation of investment in LeTote, Inc (5811I)

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RNS Number : 5811I

TMT Investments PLC

10 December 2015

TMT INVESTMENTS PLC

("TMT" or the "Company")

Revaluation of investment in LeTote, 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 LeTote, Inc. ("LeTote") has recently completed a US$15 million equity financing round.

The transaction represents an approximately US$0.62 million (or 137%) uplift in the fair value of TMT's investment in LeTote, compared to the latest announced amount as of 30 June 2015, and is equivalent to 2.2 cents in additional net asset value per TMT share.

This transaction was one of the expected revaluations announced by the Company on 30 November 2015.

About LeTote

Based in San Francisco, LeTote (www.letote.com) is a Netflix-style fashion rental platform, which delivers clothing and accessory boxes straight to consumers' doors for US$49 a month. LeTote has raised US$30 million to date, and its revenue for 2015 is on track to grow fivefold by the end of the year.

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 
 Richard Morrison/Irina 
 Lomova                    +44 20 7060 2220 
Hybridan LLP 
 Broker 
 Claire Louise Noyce       +44 20 3764 2341 
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 net assets of US$42m and has invested in just under 40 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

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December 10, 2015 02:00 ET (07:00 GMT)

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