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First New gTLD Private Auction Participation

The directors of Top Level Domain Holdings (AIM: TLDH) are pleased to announce that the Company will be participating in four private auctions starting Tuesday, 13 August for the contested strings .guide, .casa, .网址("web address" in Chinese) and .fishing. In each instance the Company will be bidding against single competitors, there being just two companies participating in each of the four auctions.

Under the private auction format, if TLDH makes the winning bid it will secure the sole ICANN application rights to the name. If the single competitor makes the winning bid, TLDH will receive the cash bid less the auctioneer's fees.

Each private auction is expected to last for up to five days, with the results of the four auctions expected to be announced by the Company in the week commencing 19 August. Each auction is being managed by Innovative Auctions.

Antony Van Couvering, Chief Executive Officer of TLDH, commented:

"We are delighted to be participating in our first round of private auctions. ICANN has encouraged contending applicants to come to private arrangements, and private auctions are one method for doing so. Our participation will enable us either to increase the number of our uncontested applications or receive a cash payment for those applications which receive bids that exceed the valuation we believe is appropriate. For rival applicants unable to reach agreement through private discussions, we view the private auction route as the method of choice given the benefits that can be delivered to all by participating."

Where competing applicants can not reach agreement either through private negotiations or private auctions, ICANN-sponsored auctions will take place with ICANN receiving the monies paid by the winning bidder.

Minds + Machines

About Minds + Machines – Minds + Machines (LSE:MMX) is a leading owner and operator of new generic Top Level Domains ("gTLDs"), and provides registry services to a range of high-profile clients. The Group also provides domain name services to consumers through its wholly owned registrar operations in the US and Europe. Learn More

Related topics: ICANN, Top-Level Domains

 
   

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