30th Nov 2010 07:00
THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN. Neither this announcement nor any part of it constitutes an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any new Ordinary Shares or warrants for Ordinary Shares in any jurisdiction in which any such offer or solicitation would be unlawful and the information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, the Republic of South Africa, the Republic of Ireland, Japan or any jurisdiction in which such publication or distribution would be unlawful.
Members of the general public are not eligible to take part in the Placing referred to below. Invitations to participate in the Placing will be limited to certain qualified persons.
For immediate release
30 November 2010
TOP LEVEL DOMAIN HOLDINGS LIMITED
("TLDH" or the "Company")
Placing
The Directors of TLDH (AIM: TLDH) are pleased to announce that the Company has today conditionally placed up to 73,996,908 new ordinary shares (the "Ordinary Shares") at a placing price of 6.5p per Ordinary Share (the "Placing Price") to raise up to £4,809,799 million before expenses (equivalent to approximately US$7,479,237 million at current exchange rates) subject to admission (the "Placing").
The Company intends to use the Placing proceeds to provide additional working capital and in particular, to develop the business ahead of the expected formal commencement by the Internet Corporation for Assigned Names and Numbers ("ICANN") of the application process for the introduction of new generic top level domains ("gTLDs").
Antony Van Couvering, Chief Executive Officer said:
"The Board of TLDH is delighted with the support and enthusiasm we have received from our shareholders for this funding round and we are confident that our company is very well positioned to both facilitate and benefit from the exciting opportunity to develop new generic top level domains."
The new Ordinary Shares being issued pursuant to the Placing will, on issue, rank pari passu with the existing Ordinary Shares in issue and application will be made for the new Ordinary Shares to be admitted to trading on AIM. Trading in the new Ordinary Shares on AIM is expected to commence on or around 7 December 2010.
Chiliogon International Limited BVI, a company directly controlled by David Weill (a Director of the Company), has subscribed today for 770,000 Ordinary Shares pursuant to the Placing at the Placing Price. Accordingly, David Weill and his related interests will on completion of the Placing be interested in 9,270,000 Ordinary Share (which, assuming the maximum number of shares are issued pursuant to the Placing, will represent 2.59 per cent. of the enlarged issued share capital). Mr Weill's current shareholding includes 8,000,000 Ordinary Shares held through Bellone Investment Services Inc and 500,000 Ordinary Shares held directly.
Chiliogon Partners LLP UK, a company indirectly controlled by David Weill, is receiving a commission at a rate of 5 per cent. of the gross placing proceeds. The proposed commission due to Chiliogon Partners LLP UK pursuant to the Placing is a related party transaction for the purposes of Rule 13 of the AIM Rules. The Directors of the Company other than David Weill (the "Independent Directors"), having consulted with Beaumont Cornish Limited, theCompany's nominated adviser, consider the commission is fair and reasonable insofar as the Company's Shareholders are concerned. In particular the Independent Directors have noted that the commission is in line with the commission generally paid by AIM-traded companies on equity fund raisings.
Further Information:
Top Level Domain Holdings Limited.
David Weill Tel: +44 (0) 20 7881 0180
Beaumont Cornish Limited
Roland Cornish
Michael Cornish Tel +44 (0) 20 7628 3396
gth media relations
Toby Hall /Christian Pickel Tel: +44 (0) 20 3103 3903/3902
Or visit the group's website at www.tldh.org
ENDS
Related Shares:
MMX.L