11 Jun 2014 11:35
Press Release | 11 June 2014 |
CentralNic Group plc
("CentralNic" or "the Company" or "the Group")
Result of Annual General Meeting
The Board of CentralNic plc (AIM:CNIC), the internet platform business which derives revenues from the global sale of domain names, is pleased to announce that at its Annual General Meeting held earlier today, 11 June 2014, all resolutions were duly passed unanimously.
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For further information:
CentralNic Group plc | |
Ben Crawford (CEO) | +44 (0) 203 388 0600 |
Zeus Capital | |
Ross Andrews / Nick Cowles (Corporate Finance) | +44 (0) 161 831 1512 |
John Goold (Institutional Sales) | +44 (0) 207 533 7716 |
Abchurch Communications | |
Jamie Hooper / Olivia Stuart Taylor | +44 (0) 20 7398 7720 |
olivia.st@abchurch-group.com | www.abchurch-group.com |
About CentralNic Group plc
§ CentralNic (LSE: CNIC) is one of the world's leading providers of both registry and registrar services to the internet domain name industry, meaning that it is both a wholesaler and a retailer of the names used for website and email addresses. The business operates globally, with customers in over 75 countries. It is headquartered in London, and in September 2013 successfully completed its admission to the AIM market of the London Stock Exchange. At the time of listing, CentralNic's goals were to grow the volume of transactions over CentralNic's platform, giving companies and individuals all over the world the tools to have their own online presence.
§ CentralNic distributes domains on behalf of their clients - owners or rights-holders - on a revenue share basis. CentralNic-distributed domains use an annual registration fee model, paid in advance by the end users, providing an annuity revenue stream for both CentralNic and its clients.
§ CentralNic was selected as the Registry Service Provider and distributor for 60 applications for new generic Top-Level Domains (gTLDs) - a programme devised by the domain industry regulator ICANN to supplement the existing TLDs such as .com and .co.uk with new domain extensions. Out of the 60 applications, there are 25 new gTLDs that will make exclusive use of CentralNic's platform, these include: .wiki, .bar, .college, .press, .rest, .ink, .feedback, .contact and .xyz.
§ CentralNic will also distribute additional TLDs from a list of 26 applications that have passed initial evaluation and are currently in the process of contention resolution. These TLD's include .app, .art, .blog, .law, .llc, .mail, .news, and school.
§ CentralNic's clients that are acquiring and funding these new TLDs include a number of successful entrepreneurs as well as Global 1000 companies such as Saudi Telecommunications, Qatar Telecom, Etisalat and Kuwait Finance House, and media and entertainment industry leaders The Guardian and William Morris Endeavor. CentralNic will receive shares in transactional revenues as fees for the distribution of domains using the new TLDs.
§ CentralNic's distribution network has approximately 1,500 registrars, including industry-leading domain retailers such as GoDaddy and Network Solutions. The network includes registrars in over 75 countries that retail domain names directly to the public and wholesale them through an additional network of over 100,000 resellers. End users register these domain names as an address for their websites and emails, as a defensive measure to protect their brands online, as a method of capturing internet traffic and achieving desired rankings on search engines, and as an investment.
§ CentralNic is itself the rights holder for 25 domain extensions, including .us.com, .eu.com, .uk.com, .ru.com and .cn.com. It therefore retains 100% of the wholesale revenues for domains using those domain extensions.
§ CentralNic is the owner of a portfolio of premium domain names including 17 two-letter .com domains including http://us.com and http://uk.com. Reports of sales of two-letter .com domains for of US$4.6 million and US$3.7 million in 2013 and 2014 (respectively) serve as evidence of the continued high values the market places on these premium domains.
§ In addition to its growth as a global distributor of domain names, the Directors believe that there is potential for CentralNic to also become a significant retailer of domain names direct to end users. To this end, CentralNic has already obtained the necessary accreditations, built the technology, signed initial contracts and commenced trading as a domain name retailer.
All Group information and news can be found at http://www.centralnic.com