Business
rollApp, Inc. - New equity financing
rollApp, Inc. - New equity financing.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 2103I TMT Investments PLC 01 July 2013 \n \n\n1 July 2013\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nrollApp, Inc. - New equity financing\n \nTMT Investments PLC, which invests in high-growth internet-based companies across a variety of sectors, is pleased to announce that yesterday its portfolio company rollApp, Inc. (\"rollApp\") completed the initial closing (\"Initial Closing\") of a new US$1,000,000 equity financing round.\n \nAs part of the Initial Closing, TMT has acquired newly issued preferred shares in rollApp for an aggregate consideration of US$50,000. After the initial closing, TMT will hold 10% of rollApp's fully-diluted equity capital. \n \nIn addition, TMT has agreed to acquire additional preferred shares in rollApp for an aggregate consideration of US$50,000 (\"Second Closing\"), subject to certain milestones been reached by rollApp in the first 8 months after the Initial Closing.\n \nThe transaction implies an approximately 39% uplift in the fair value of TMT's investment in rollApp, compared to the latest reported amount as of 31 December 2012. TMT originally invested US$350,000 in rollApp in August 2011.\n \nRollApp provides a software-on-demand service designed to instantly deliver existing third-party software applications to any web-browser-equipped device over broadband/3G. The service aims at allowing end-users to launch virtually any third-party software application in the \"cloud\" and use it inside a standard web-browser.\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\nMarc Cramsie/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 raised USD28m and invested in 25 companies to date. The company's objective is to generate an attractive rate of return for shareholders,...