TOP LEVEL DOMAIN HOLDINGS LIMITED
(“TLDH” or the “Company”)
Interim Results for the Period ended 30 April 2009
TLDH (AIM: TLDH) today announces its unaudited results for the six month period ended 30 April 2009 (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 2009.
Chairman’s Statement
While we were generally pleased with the performance of our websites TutorialBlog and AppCraver, the portfolio of domain names generated reduced revenue for a number of reasons including, but not limited to, reduced payouts by search result providers, increased traffic attrition, and general deteriorating fundamentals of advertising funded business in the current economic environment. As previously announced, the Company does not currently plan to invest in additional destination domain names at this time, but intends to expand its portfolio vertically into top level domain names (“TLD’s”) where the Directors believe there are attractive investment opportunities.
Existing TLD’s include .com, .net, and .org. The Internet Corporation for Assigned Names and Numbers (“ICANN”) recently announced its intention to allow qualified parties to apply to own and operate new TLDs. The Company intends to invest in a portfolio of TLD applicants and infrastructure technologies and following the Period end announced that it had conditionally subscribed for an interest in top level domain registry services provider Minds+Machines Inc. (www.mindsandmachines.com). Minds+Machines Inc. is a consulting and registry services company that provides registry solutions for new TLD applicants.
The Directors are proposing that the Company’s current investing policy in relation to asset allocation and risk diversification (“Investing Policy”) is modified, subject to approval at the forthcoming annual general meeting (“AGM”), so that the Company can consider a wider range of potential investment opportunities in the internet sector (the “Modified Investing Policy”). In particular the Company intends to acquire a widely distributed mix of businesses involved in the operation and supply of support services to domains and websites and other related internet services businesses including top level domains and top level domain infrastructure and support technologies. As the internet continues to evolve rapidly, this should enable to Company to exploit new investment opportunities which arise through technological or regulatory change.
Revenue for the Period was £129,000 with finance revenue totalling £21,000. Administrative expenses totalled £465,000. Share options expensed totalled £106,000. Retained loss for the period attributable to members of the parent Company totalled £421,000 for a loss of 0.26 pence per Ordinary share.
The Company still has significant cash resources. Cash and cash equivalents at the Period end amounted to approximately £2.0 million.
The Board is excited about the prospects for the Company and believe that the Company is well positioned to take advantage of the new developments within the TLD sector which should create significant opportunities for the future development of the Company.
Frederick Krueger
Chairman and Chief Executive
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
Click here for the complete April 2009 Interim Report.