Last checked at 30 Dec 2011 07:00
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in Wanelo Inc. - improved terms
Further to the announcement made on 22 November, the Board of TMT is pleased to announce an improvement in the terms of its investment in Wanelo Inc. ("Wanelo"), the early-stage social e-store.
In order to reflect the better terms agreed with a group of new investors, who invested $1.35 million in new preferred shares in Wanelo after TMT's initial investment, TMT has been issued additional new preferred shares in Wanelo for zero consideration. As a result, TMT's fully diluted equity stake in Wanelo has increased from 5.66% to 6.53%.
30 December 2011
For further information contact:
TMT INVESTMENTS PLC Mr. Alexander Selegenev www.tmtinvestments.com
| +44(0)1534 281 843 alexander.selegenev@tmtinvestments.com |
ZAI Corporate Finance Ltd NOMAD and Broker Marc Cramsie/Irina Lomova | 020 7060 2220 |