Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Placing

30 Nov 2010 07:00

RNS Number : 0286X
Top Level Domain Holdings Ltd
30 November 2010
 



THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR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in any jurisdiction in which any such offer or solicitation would be unlawful and the information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, the Republic of South Africa, the Republic of Ireland, Japan or any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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEKMMFMKGGGGZG

Related Shares

Back to RNS

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.