Business
Revaluation of Investment in Virool, Inc
Revaluation of Investment in Virool, Inc.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 8825A TMT Investments PLC 01 October 2015 \n \n\n1 October 2015\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nRevaluation of investment in Virool, Inc.\n \nTMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that its portfolio company Virool, Inc. (\"Virool\") has recently completed a sizable equity financing round.\n \nThe transaction represents an approximately US$1.31 million (or 161%) uplift in the fair value of TMT's investment in Virool, compared to the latest announced amount as of 30 June 2015, and is equivalent to 4.7 cents in additional net asset value per TMT share.\n \n \nFor further information contact:\n \n\n\n\n\nTMT Investments Plc\nMr. Alexander Selegenev\nwww.tmtinvestments.com\n \n\n\n+44 1534 281 843\[email protected]\n \n\n\n\n\nZAI Corporate Finance Ltd.\nNOMAD and Broker\nRichard Morrison/Irina Lomova\n \n\n\n+44 20 7060 2220\n\n\n\n\nKinlan Communications\nDavid Hothersall\n \n\n\nTel. +44 20 7638 3435\[email protected]\n\n\n\n\n \nAbout TMT Investments\n \nTMT 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\n \nAbout Virool \n \nVirool, Inc has developed a self-service platform that allows video creators to distribute videos that are over 30 seconds long to targeted audiences across Virool's network of online publishers, blogs, social games and mobile apps. Virool has developed an application that makes it very easy for publishers on Facebook, iOS, Android, blogs or other media channels to plug into Virool network and start making money by providing advertising space. \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END STRVFLBBEBFZFBE\n ","length":4806,"tagName":"div"}]