• Home
  • About
  • Privacy Policy/Disclosures
  • Advertise
  • Contact

TLD Investors

Domain Investing Stats and Tips

Minds + Machines raises £9.0 million for new gTlds

February 10, 2012 by Raymond Hackney

Minds + Machines raises another £9.0 million or approximately $14.2 million for new gTlds.

Placing to raise approximately £9.0 million
February 10, 2012

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.

The stock trades on the AIM market under the symbol TLDH.

http://www.tldh.org/2012/02/placing-to-raise-approximately-9-0-million/

 

Related Content

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to print (Opens in new window)
  • Click to email this to a friend (Opens in new window)

Filed Under: New Tlds

About Raymond Hackney

Raymond Hackney has been involved with domain names since 1997. One of the most prolific writers in the domain industry and founder of TLDinvestors.com and 3Character.com

Recent Posts

  • Understand Your Own Magic Words
  • Seller of Masks.com drops asking price
  • Dynadot wins the Namepros end of the year favorite registrar poll

Recent Comments

  • Matt on Understand Your Own Magic Words
  • Anonymous on Seller of Masks.com drops asking price
  • Anonymous on Seller of Masks.com drops asking price

Categories

Monthly Archives

domain name news

© 2021 TLD Investors · All Rights Reserved

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.