London Stock Exchange is delighted to welcome CentralNic Group PLC to AIM
Monday 2nd September 2013
CentralNic Group PLC is a registry service provider which derives revenues from the sale of internet domain names. The business was first established in 1995 with the vision of bringing more choice and competition to the domain name market.
Following recent industry developments and regulatory changes, CentralNic expects, by virtue of its contracts and technical infrastructure, to benefit from a major expansion in the number of generic top level domains ("gTLDs") expected to operate from the end of 2013. New TLDs scheduled to launch that CentralNic has contracts to provide exclusive global distribution services to include .bar, .college, .wiki and .xyz, among many others.
Zeus Capital, the Company's broker and nominated adviser, raised a total of £7m following a placing and vendor placing at 55p per share.
The Directors believe that the funds raised for the Group by the placing of shares will allow the Group to enhance its global distribution network, acquire interests in new gTLDs, expand its own retail business and obtain contracts from governments to operate their country code TLDs ("ccTLDs"), especially in developing markets.
Commenting on CentralNic's listing on AIM, CEO Ben Crawford said:
"The Company has made significant progress over the past few years as it prepared itself to capitalise on the major changes happening with the internet. We have been awarded the exclusive distribution contracts for 60 new TLDs, 25 of which are already confirmed to launch through CentralNic.
"Our successful listing on AIM has helped us to raise the funds that will allow us to further build our market position and network as well as invest in new TLD assets when the opportunity arises."