23 Jul 2009 07:00
For immediate release
23 July 2009
TOP LEVEL DOMAIN HOLDINGS LIMITED
("TLDH" or the "Company")
Completion of Placing
The New Ordinary Shares issued pursuant to the Placing rank pari passu with the existing Ordinary Shares in issue and application is being made for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on 28 July 2009, following which TLDH will have an enlarged issued share capital of 272,963,846 Ordinary Shares admitted to trading on AIM (the "Enlarged Issued Share Capital").
As announced on 19 June 2009, certain of the Directors and their related interests participated in the Placing. In aggregate, certain of the Directors and their related interests subscribed for 68,331,360 new Ordinary Shares on the same terms as third party placees, further details of which are set out below.
The subscriptions by certain of the Directors, together with their interests in the Enlarged Issued Share Capital and the Placing Warrants, is set out below:
| Director | Current holding of Ordinary Shares | New Ordinary Shares subscribed for in the Placing | Enlarged holding of Ordinary Shares on completion of the Placing | Percentage interest in the Enlarged Issued Share Capital | Placing Warrants received pursuant to the Placing |
| Fred Krueger | 25,000,000 | 50,108,560 | 75,108,560 | 27.5% | 25,054,280 |
| Guy Elliott | 17,000,000 | 9,000,000 | 26,000,000 | 9.5% | 4,500,000 |
| David Weill (Note i) | 500,000 | 8,000,000 | 8,500,000 | 3.1% | 4,000,000 |
| Clark Landry | 10,000,000 | 1,222,800 | 11,222,800 | 4.1% | 611,400 |
Note:
(i) David Weill's current shareholding is held through Bellone Investment Services Inc.
As previously announced, the proposed participation in the Placing by Fred Krueger, Guy Elliott, David Weill and Clark Landry and their related interests is a related party transaction for the purposes of Rule 13 of the AIM Rules. The Independent Directors of the Company (being Antony Van Couvering and Michael Mendelson), having consulted with Beaumont Cornish Limited, the Company's nominated adviser, unanimously consider the terms of the proposed participation in the Placing by Fred Krueger, Guy Elliott, David Weill and Clark Landry and their related interests are fair and reasonable insofar as the Company's Shareholders are concerned.
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
Or visit the group's website at www.tldh.org
ENDS
MMX.L (MMX)