The Board of Top Level Domain Holdings Limited (AIM:TLDH) announces that the Company has agreed a funding facility to support its participation in a prospective auction in relation to a specific contested gTLD application. The conditional funding will be provided solely in exchange for a perpetual share in the gross revenue generated by the gTLD string so funded (“Auction gTLD”) should the Company be successful in the auction.
Under the funding agreement, TLDH has the right to call up to US$10m, to be used exclusively to acquire from ICANN the right for the Company to own and operate the Auction gTLD. The funding provider has the right to increase its funding by up to a further US$5m. The funding provider’s participation will be limited to a share of the gross revenues from the future operation of the Auction gTLD. The funding is not repayable other than through the gross revenue share. TLDH will retain sole management rights and responsibilities in the running of the Auction gTLD.
Fred Krueger, executive chairman said:
We believe that this funding model provides an attractive way to secure the resources to participate in an auction of those contended strings that we believe have significant revenue potential, while at the same time avoiding dilution to our shareholders.
For further information, please contact:
Top Level Domain Holdings Limited
North America
Antony Van Couvering
Tel: +1 917 406 7126
Beaumont Cornish Limited (Nomad)
Roland Cornish
Michael Cornish
Tel +44 (0) 20 7628 3396
Singer Capital Markets (Broker)
Dominic Del Mar
Tel +44 (0) 20 3205 7500
gth media relations
Toby Hall/Suzanne Johnson Walsh
Tel: +44 (0) 20 3103 3903/2
About Top Level Domain Holdings Limited
Top Level Domain Holdings is a publicly-traded holding company listed on the London AIM market. The company is focused on the new top-level domain space. Top-level domains, such as .com, run by VeriSign (NASDAQ: VRSN), and .biz, run by NeuStar (NYSE: NSR), are regulated by ICANN. ICANN has announced plans to expand the number of top-level domains. TLDH intends to make targeted investments in this space, focusing on both infrastructure technologies and specific top-level domains.
About Minds + Machines
Minds + Machines is a registry services provider that works internationally with commercial organisations, cities, not-for-profits, and entrepreneurs to secure and operate new web domains, known as top-level domains (TLDs). Minds and Machines Limited is a wholly owned subsidiary of Top Level Domains Holdings Limited.