CentralNIC who are the registry partner for the .africa applicant DotConnectAfrica is set to invest US$1.5 in a new gTLD Company. CentralNIC announced in the press statement below
Notice of Intention to Invest
CentralNic plc (AIM:CNIC), the internet platform business which derives revenues from the global sale of domain names, today announces that the Group intends to invest US$1.5 million in a Company which is in a contention set to acquire a new generic Top-Level Domain (“gTLD”). The funds will be placed into an escrow account, pending the resolution of the contention set, with the winning applicant expected to be resolved by a private auction within the next two weeks. The investment is contingent upon the Applicant Company successfully obtaining the rights to the gTLD by winning the auction. If the company is unsuccessful, the funds will be returned in full to CentralNic by the escrow agent.
The Company with the internet platform business which derives revenues from the global sale of domain names, today announced that the Group will publish its Interim Results for the six-months ended 30 June 2014 on Tuesday 23 September 2014.
Commenting on the results for CentralNic PLC (LON: CNIC), John Swingewood, Chairman, said:
“I am pleased that our Registry business has achieved record billings, revenues and profits in the first half of 2014, against a background of delays in new Top-Level Domains (“TLDs”) that have impacted across the industry. To date, demand levels have fallen short of industry expectations, however CentralNic has performed strongly relative to the market with the new TLDs it has launched to date and is well positioned to take advantage of the growth in demand when it comes through.
“CentralNic has now made the planned investments in operating and capital expenditure as expected in the first half of the year, transforming the business to enable it to profit not only from wholesale distribution fees, but also from retail sales and new high-yield enterprise contracts. The Board is satisfied with the Company’s execution of its plan and believes the business is strongly positioned to take advantage of future opportunities in the industry.”
About CentralNic Group plc
CentralNic (LSE: CNIC) is the developer and manager of a technology platform that supports critical functions of the internet and enables the worldwide purchase and operation of internet domain names. It operates a global wholesale network, supplying domain names to over 1,500 vendors in 77 countries, and is a leader in wholesaling new Top-Level Domains, with 30 uncontested and 35 contested Top-Level Domains under contract. CentralNic is also a global top thirty domain name retailer (“registrar”), with its retail websites including internetbs.net, buydomains.london and domain.luxury. Additionally, via its High Yield Channels programme, CentralNic supplies domain names, software and services directly to large corporations and governments requiring state-of the art technical solutions.
For more information please visit: www.centralnic.com