10th Feb 2012 07:00
For immediate release
10 February 2012
TOP LEVEL DOMAIN HOLDINGS LIMITED
("TLDH" or the "Company")
Placing to raise approximately £9.0 million
The Directors of Top Level Domain Holdings Limited (AIM:TLDH.L), the only publicly traded company focused exclusively on acquiring and operating new generic top-level domains ("gTLDs"), are delighted to announce that the Company has today conditionally placed 109,468,353 new ordinary shares (the "Ordinary Shares") at a placing price of 8.25p per Ordinary Share (the "Placing Price") with 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 (the "Placing").
As previously announced, the Internet Corporation for Assigned Names and Numbers ("ICANN") 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."
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 17 February 2012.
Further Information:
Top Level Domain Holdings Limited
North America
Antony Van Couvering Tel: + 1 917 406 7126
Beaumont Cornish Limited (Nomad) Tel +44 (0) 20 7628 3396
Roland Cornish
Michael Cornish
XCAP Securities plc (Joint Broker) Tel: +44 (0) 20 3216 2661/2667
Karen Kelly
Halimah Hussain
Daniel Stewart & Company plc (Joint Broker) Tel: +44 (0) 20 7776 6550
Martin Lampshire
gth media relations
Toby Hall /Suzanne Johnson Walsh Tel: +44 (0) 20 3103 3903/2
Or visit the group's website at www.tldh.org
About Top Level Domain Holdings Limited
Top Level Domain Holding is a publicly traded holding company listed on the London AIM market. The company is focused on the new top-level domain space. Top-level domains, such as .com, run by VeriSign (NASDAQ: VRSN), and .biz, run by NeuStar (NYSE: NSR), are regulated by ICANN. ICANN has announced plans to expand the number of top-level domains. TLDH intends to make targeted investments in this space, focusing on both infrastructure technologies and specific top-level domains.
About Minds + Machines, http://mindsandmachines.com
Minds + Machines is a registry services provider that works internationally with commercial organisations, cities, not-for-profits and entrepreneurs to secure and operate new web domains, known as top-level domains (TLDs). Minds + Machines is a wholly owned subsidiary of Top Level Domains Holdings, Ltd.
ENDS
Related Shares:
MMX.L