TOP LEVEL DOMAIN HOLDINGS LTD Placing to raise approximately £9.0 million

TOP LEVEL DOMAIN HOLDINGS LTD Placing to raise approximately £9.0 million

The Directors of Top Level Domain Holdings Limited, the only publicly traded company focused exclusively on acquiring and operating new generic top-level domains, are delighted to announce that the Company has today conditionally placed 109,468,353 new ordinary sharesat a placing price of 8.25p per Ordinary Share mwith institutional and other investors to raise £9,031,139 before expenses (equivalent to approximately US$14.2 million at current exchange rates) subject to admission.

As previously announced, the Internet Corporation for Assigned Names and Numbers has formally opened the application window under which organisations can apply for the right to own and operate a new generic top level domain. The application window will remain open until 12 April 2012.  Under ICANN's rules, applicants for new gTLDs must first purchase an application slot, or placeholder, for each application for US$5,000 each, which will then be deducted from each US$185,000 gTLD application fee.

The Company intends to use the Placing proceeds to provide additional working capital and in particular, to fund the application slots and subsequent fees for new gTLDs on behalf of itself and clients of Minds + Machines.  The Company expects to submit multiple batches for application slots during the application window having already submitted for its first twenty application slots. In January, TLDH announced that Minds+Machines will also be providing the back-end registry services for the proposed new .BAYERN domain.

Antony Van Couvering, CEO of TLDH, commented: "We are delighted that both existing and new investors have responded so positively to our plan.  With a new cash balance of approximately US$25 million, no debt, and a public stock, we believe that TLDH is ideally positioned to participate in the new gTLD opportunity."

Peter Dengate Thrush, Chairman of TLDH, added: ''TLDH management believes that the increased capital will allow it to increase significantly the number of applications it is able to make, allowing it to develop a wider, more diversified portfolio of names in multiple languages and scripts."

No Comments

Post a Comment