Business
Final results for the year ended 31 December 2012
Final results for the year ended 31 December 2012.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 5313D TMT Investments PLC 30 April 2013 \n \n\n30 April 2013\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nFinal results for the year ended 31 December 2012\n \nTMT Investments PLC, which invests in high-growth, internet-based companies across a variety of sectors, is pleased to announce its final results for the year ended 31 December 2012.\n \nTMT is managed by a highly experienced team with deep TMT (technology, media and telecoms) and deal finance expertise. The 2012 Annual Results indicate that the capital allocation strategy, cash reserves and positive growth performance of many of our investments position the Company well for the coming year.\n \nKey highlights\n \n· US$10.7 million invested across 12 new and 2 existing portfolio companies in 2012, with 25 investments to date since IPO\n· A number of portfolio companies experiencing very rapid growth\n· 68% increase in fair value of stake in DepositPhotos to US$5.06m\n· 2 successful exits and a number of portfolio revaluations to date since IPO\n· Three senior managers to receive all of their 2013 salaries in TMT shares rather than in cash\n· Well placed to capitalise on the opportunities created in the software applications, digital media and internet sectors, with approximately US$7m in cash reserves\n· Strong pipeline of investments under review\n \nAlexander Selegenev, Executive Director of TMT, commented:\n \n\"2012 has been our second full year as a publicly traded company. We have invested in twelve new companies and provided additional financing to two of our existing portfolio companies operating in the mobile, cloud, social, advertising, and data and project management segments of the Internet market.\n \nTMT has built a high quality and diversified portfolio of investments in companies that operate in high-growth, internet-based sectors. We typically invest in companies at an early stage of their commercial development, and which we believe have the potential to outgrow their competitors and become multinational companies. Many of these companies originate in the US, and our active presence in the US has meant we have been able to acc...