- On 16 December 2013, the TMT Investments announced a cash-for-shares swap arrangement with the Company's senior management pursuant to which German Kaplun, Alexander Morgulchik and Artyom Inyutin agreed to receive all of their 2014 salaries in TMT shares at a price of US$1.70 per share rather than monthly in cash.

On 31 December 2014 the Company issued 176,469 ordinary shares of no par value each in the Company in accordance with the terms of the cash-for-shares swap arrangement and as announced on 16 December 2013.

As a result, Morgulchik and Kaplun collectively now own 22.12% of the issued share capital of TMT, and Inyutin owns 14.66% of the issued share capital of TMT.

An application has been made to admit these shares to AIM, which is expected to occur on 15 January 2015.

The new ordinary shares rank pari passu with the existing ordinary shares.

At 11:05am: [LON:TMT] TMT Investments share price was 0p at 1.67p

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