TMT Investments PLC TMT Participation in Telegram Group, Inc. Pre-ICO
February 21 2018 - 2:01AM
RNS Non-Regulatory
TIDMTMT
TMT Investments PLC
21 February 2018
21 February 2018
TMT INVESTMENTS PLC
("TMT" or the "Company")
TMT Participation in Telegram Group, Inc. Pre-ICO
TMT Investments PLC (AIM: TMT.L), the venture capital company
investing in high-growth technology companies across a number of
core specialist sectors, is pleased to confirm its first blockchain
related investment through participation in the recent pre-ICO
(initial coin offering) conducted by Telegram Group, Inc.
("Telegram"). Telegram is an established global messaging platform
with over 200 million users around the world
https://telegram.org
The recent pre sale of Telegram's tokens raised US$850m in fiat
currency (the "Telegram pre-ICO") according to a filing submitted
by Telegram to the US Securities and Exchange Commission ("SEC") on
13 February 2018. The Telegram pre-ICO was offered exclusively to a
circle of investors selected by Telegram. TMT believes that demand
for the Telegram pre-ICO was driven by the fact that Telegram is a
well-established global messaging platform rather than a startup
ICO issuer.
The funds have been raised for the development of the Telegram
Open Network (or TON Blockchain), the development and maintenance
of Telegram Messenger and the other purposes according to the SEC
filed document.
Alexander Selegenev, Executive Director of TMT, commented: "We
are delighted to have gained early access to this pre-ICO offering,
which is also our first blockchain investment. Our investment focus
at TMT is on identifying truly scalable companies at an early stage
that have outstanding management teams. We believe that the
Telegram pre-ICO meets all three of these requirements and provides
our shareholders access to this opportunity through publicly traded
TMT, and ahead of any general public ICO which Telegram may pursue
later in the year".
Alexander Selegenev added: "The Telegram pre-ICO is a welcome
addition to our diversified portfolio, which includes ride-hailing
service Taxify https://taxify.eu/, B2B sales management software
Pipedrive https://www.pipedrive.com/en-gb and perfume and cosmetics
online subscription retailer Scentbird
https://www.scentbird.com/".
TMT's investment in the Telegram pre-ICO was made from the
Company's existing cash balances in an amount below 1% of TMT's net
asset value as at 30 June 2017.
For further information contact:
TMT Investments PLC +44 1534 281 843
Alexander Selegenev alexander.selegenev@tmtinvestments.com
Executive Director
www.tmtinvestments.com
Smith & Williamson Corporate Finance
Ltd
Nominated Adviser
Russell Cook
David Jones
Ben Jeynes +44 (0)20 7131 4000
Hybridan LLP
Broker
Claire Louise Noyce +44 20 3764 2341
Kinlan Communications +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments PLC
TMT Investments PLC invests in high-growth technology companies
across a number of core specialist sectors and has a significant
number of Silicon Valley investments in its portfolio. Founded in
2010, TMT had net assets as at 30 June 2017 of US$58m and has
invested in over 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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