rollApp Gets 350K in Seed Funding from TMT Investments

rollApp is pleased to announce an investment by TMT Investments (http://www.tmtinvestments.com) – a UK-based investment firm established in 2010 that operates in the technology, media and telecommunications sector.

rollApp has agreed to sell new shares representing 10% of rollApp’s equity capital (posttransaction) for an aggregate consideration of $350,000. Definitive agreements for the transaction have been entered into on 19 August 2011 (“Effective Date”).

In addition, TMT has been granted an option to increase its investment in rollApp by subscribing for any number of new shares to bring TMT’s shareholding in rollApp up to 25%. The exercise date and price for the option shares will depend on the terms of a potential third party investor’s investment in rollApp.