25 Oct 2013 07:00
For immediate release
25 October 2013
Top Level Domain Holdings Limited
("TLDH" or the "Company")
Private Auction and gTLD Program Update
· TLDH to realise US$4.81 million (£2.97 million) in cash from .website and .lawyer private auctions
· ICANN delegates first four gTLDs into the Internet's Root Zone
· Company well positioned for growth and acquisition of further gTLDs
The directors of Top Level Domain Holdings (AIM:TLDH) are delighted to announce that following the private auctions for .website and .lawyer, which concluded late on 23 October 2013, the Company will add £2.97 million (US$4.81 million) to its cash reserves. The amount includes proceeds from the two private auctions, net of commissions payable to the auctioneer, and refunds due from ICANN in relation to each of the two applications.
Separately, the directors are pleased to report that the first four gTLDs under ICANN's New gTLD Program have now been delegated into the Internet's Root Zone. As expected, the first four gTLDs to be delegated by ICANN are in non Roman scripts - شبكة. (Arabic for "web/network"),.онлайн (Cyrillic for "online"), .сайт (Cyrillic for "site") and .游戏(Chinese for "game(s)").
Following the receipt of cash from the latest round of private auctions, the Company will have cash reserves of £10.1 million - as well as access to up to a further US$15 million to compete in a single auction. The reserves will allow the Company to continue growing its portfolio of uncontested applications and move its portfolio to launch. TLDH's portfolio of uncontested applications in which it has interests remains at 25, 17 of which it wholly owns.
Fred Krueger, Chairman of TLDH, said:
"We are delighted with the result of the latest private auction rounds. Our strategy remains to best monetise those applications where we see least value so that we can maximise our ability to acquire those names in which we see greatest value. We very much look forward to competing in the next private auction rounds. We are additionally delighted with the speed with which the first four gTLDs have moved from contract signing to delegation. This is a momentous point in the Internet's development and means there is a strong probability that our portfolio will move to cash generative positions within the time-frames previously indicated."
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
N+1 Singer (Broker)
Matt Thomas Tel +44 (0) 20 7496 3000
gth media relations
Toby Hall /Suzanne Johnson Walsh Tel: +44 (0) 20 7822 7493/2
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 AIM market of the London Stock Exchange focused on the new top-level domain space. Top-level domains, such as .com and .net are regulated by ICANN. ICANN is expanding the number of new generic top-level domains from the current 22 to over 1000. TLDH is making 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 top-level domains (TLDs). Minds + Machines is a wholly owned subsidiary of Top Level Domains Holdings Limited.