TLDH Announces Unaudited Interim Report for April 2010
TLDH (AIM: TLDH) today announces its unaudited results for the six month period ended 30 April 2010 (the “Period”). A copy of the interim results for the Period report is available on the Company’s website, www.tldh.org.
The following sets out the audited results for the Company for the period ended 30 April 2010.
CHAIRMAN’S STATEMENT
The Company’s strategy is to build a portfolio of top level domains (“gTLDs”)applicants and infrastructure technologies.
The six month period ended 30 April 2010 was one of further progress by the Internet Corporation for Assigned Names and Numbers (“ICANN”) towards the eventual roll out of gTLDs.
At its March meeting in Nairobi, the ICANN Board resolved that there should be no cross-ownership between domain name registries and registrars. This prohibition prevents existing ICANN-accredited registrars from owning or operating new gTLDs, thus limiting the number of prospective applicants. TLDH was unaffected by this policy and the Board of TLDH therefore expects that TLDH will benefit from this continuing separation between registrars and registries. The ICANN Board also resolved to focus on the full introduction of gTLDs later this year.
At its subsequent June meeting in Brussels following the Period end, the ICANN Board resolved to hold a special meeting in September 2010 to address all the outstanding issues related to the implementation of the new gTLD programme. The final Applicant Guidebook is expected to be published in November 2010, which will set the final rules for applicants. The applications start date is then expected to be announced at the December 2010 ICANN meeting in Cartagena, Colombia.
We have taken a conservative view toward the timing of what we believe to be a revolutionary stage of the development of the Internet. The TLDH Board is preparing for the likelihood of an early December announcement of the date of the gTLD application window.
Revenue for the Period was £32,000 with finance revenue totalling £3,000. Administrative expenses totalled £480,000. Share options expensed totalled £17,000. Retained loss for the period attributable to members of the parent Company totalled £465,000 for a loss of 0.16 pence per Ordinary share. The Company still has significant cash resources. Cash and cash equivalents at the Period end amounted to approximately £3.9 million
We remain excited about the prospects for the development of the Company that the introduction of gTLDs will create. With our substantial cash resources, low operating costs and our significant interests in prospective applicants for .eco, .nyc, .berlin, .bayern and .gay amongst others, together with the capabilities of our wholly-owned subsidiary Minds and Machines LLC, and also with the restriction on competition that has been placed on existing registrars, we believe that TLDH is well positioned ahead of the start of the gTLDs application and award process.
Frederick Krueger
Executive Chairman
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 7153 8039/8036
Or visit the group’s website at www.tldh.org
