Men can live on TMT shares alone Cash-for-shares swap by senior management TMT announces that three of its senior executives have signed agreements with the Company to receive all of their 2014 salaries in TMT shares on 31 December 2014 rather than monthly in cash. The number of shares receivable in each case is fixed at a price of US$1.7 per share, which compares with the latest middle market quotation for TMT shares of US$1.6 per share. The agreements are binding on the executives concerned regardless of TMT's future share price. A new approach to stock promotion on London's AIM market? Well, yes, certainly, but this is a continuation: these TMT executives also received their 2013 salary entirely in stock. Here are the three cashless wonders at this web-focused investment firm: Alexander Morgulchik Alexander Morgulchik was the original co-founder of RBC and Armada. He has participated in over 30 successful M&A transactions and post-acquisition restructurings of companies in 8 countries, including Russia, Ukraine, the United Kingdom and Hong Kong. His particular fields of expertise include business analysis and optimization, asset management, corporate restructuring, post merger integration, M&A, business development and the establishment and development of partnerships and joint ventures. Alexander holds a Ph.D. from Plekhanov Russian University of Economics. German Kaplun In 1993, German Kaplun co-founded RosBusinessConsulting ("RBC"), one of the largest Russian media groups. Between 1993 and 2012, RBC grew into a diversified holding company with 3,000 employees and dozens of successful businesses. RBC's successful acquisitions included "RBC Money," online travel operator "iGlobe.ru" and online dating service "loveplanet.ru." Russia's largest web-hosting service provider "Hosting Centre RBC" was formed as a result of RBC's acquiring and merging 8 different hosting service providers in Russia. In addition, throughout its history, RBC launched over 70 start-ups, including business news portal "rbc.ru," RBC TV channel, online magazine "utro.ru," online news and recreational portal "qip.ru," video hosting service "smotri.com," and one of Russia's most popular hi-tech news resources "cnews.ru." In April 2002, RBC successfully conducted Russia's first IPO on Moscow's MICEX and RTS stock exchanges with its market capitalization reaching $1.7bn at one point. German is also the co-founder of Armada, one of the 5 largest Russian software companies. Throughout the years, German has been ranked among the best media managers in Russia. He holds a Ph.D. from the Plekhanov Russian University of Economics. Artyom Inyutin Artyom Inyutin is an accomplished executive in the field of internet, investment management, telecommunications, TV, mobile content, and advertising. He has 18 years of experience working in 5 different countries. Artyom is a shareholder in RBC and, until recently, he was in charge of RBC's media projects. Under his leadership, over 60 popular start-ups were launched, including "rbc.ru," "cnews.ru," RBC TV, "RBC daily" newspaper, "smotri.com," "autonews.ru," "qip.ru," etc. Artyom was instrumental in helping RBC's media business achieve a 65 million monthly audience and $200m revenues. Mr. Inyutin has a track-record of successfully acquiring, merging and integrating over 25 companies. The Russian Managers Association ranked Artyom among the 1,000 most professional Russian managers. He is also highly ranked by various Russian and international media, as well as IT associations. Artyom graduated from the Moscow Institute of Radio Electronics and Automation, as well as the Russian Finance Academy. Together, the three men already own 38 per cent of TMT. If a lack of cash becomes an issue for any of them, they'll be needing a market in TMT stock. At present there doesn't appear to be one.