StockMarketWire.com - Top Level Domain Holdings plans to raise about £3m via a placing at 6.5p a share to take advantage of a new domains registration regime.

The company said it was excited about prospects now that the Internet Corporation for Assigned Names and Numbers (ICANN) had approved the timeline for the introduction of new generic top-level domains (gTLD).

The net placing proceeds will be used together with the company's cash balances of around $5.5m to develop its portfolio of prospective top-level domain projects ahead of the gTLD application process in spring 2011.

CEO Antony Van Couverin said, 'Having reviewed ICANN's Final Proposed Applicant Guidebook, and in view of the ICANN Board's historic decision to do away with cross-ownership restrictions between registries and registrars, we believe that the timing is right for additional investment by TLDH.

'ICANN's registry-registrar decision means that additional gTLD business models are now viable, and we have already seen a marked increase in interest from prospective new clients. We intend to make sure we have the resources to take advantage of this opportunity.'

In addition to its investments in gTLD projects, TLDH owns Minds + Machines, a leading provider of top-level domain name registry technology and consulting services.

The shares were down 0.87p at 7.13p.




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