Photon launches takeover of Dark Blue Sea.
Photon Group has launched a takeover bid for Dark Blue Sea, parent company of Fabulous.
Photon currently owns 30.55% of all issued ordinary shares of Dark Blue Sea. The company is offering to buy outstanding ordinary shares for 30 cents per share, which it says is a 56% premium to the average share price over the past month.
Dark Blue Sea’s second largest shareholder, Huon Capital, says it intends to accept the offer provided that it doesn’t receive a higher offer.
Photon Group’s offer is subject to being able to purchase at least 50.1% of the company to gain control. It also requires that Dark Blue Sea not issue any additional shares. However, the day after Photon Group announced its offer, Dark Blue Sea announced that it had already issued additional shares the day before Photon’s offer.
Lee H. says
I was just reading how Fabulous acquired a new Australia domain drop catcher. I wonder if the takeover is in anyway related. Also, any idea who they acquired?
Frank Michlick (Domain Name News) says
This is not the first takeover bid by Photon Group IIRC.
However the shares they have issues are related to their purchase of the drop catching company.
Andrew Allemann says
Thanks for filling in the gaps on that, Frank.
Geo Domain Development says
@Andrew
There’s quite an interesting back story on this one. The full story will come out soon enough I guess!
John Dawson says
We are an http://www.enetica.com.au reseller who uses yheir domain name parking monetisation program run by dbs / fabulous.
Enetica says DBS has not paid money to people for over 1 month andf they are late.
somethings wrong somewhere
Mike Robertson says
Hi John Dawson,
Payments are made on the 10th of every month. Can you please send me an email (mike at fabulous dot com) with your username and I will check why you haven’t received payment.
Cheers,
Mike
Fabulous.com