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Domainz Future Taskforce Report 25/03/03

Status: Approved at Council Meeting 030404

  1. The Taskforce has met twice face to face since the last Council Meeting. On 21 February and 7 March 2003. It is also scheduled to meet on Friday 3 April.
  2. Council has already received a briefing on conflicts of interest management.
  3. This paper is in two sections. The first section is a public report and the second is commercial in confidence to Council only.
  4. Valuation. The Taskforce has received and considered a valuation that was undertaken by PWC Global for the Domainz Board. The purpose was to give an indication of broad price range, rather than to be a fixed expectation of sale price.
  5. Conflicts of Interest As previously notified to Council, a conflicts of interest regime has been formally established. All members of the Taskforce, Council and the Board have been asked to sign a deed of disclosure and confidentiality.
  6. Taskforce Membership In line with notified conflicts of interest, Domainz CEO Derek Locke and Chair Bob Gray have resigned from the Taskforce, and James Scott has been co-opted on. Derek and Bob will continue to brief the Taskforce as needed on specific items.
  7. Sale Advisors Richard Perry from Johnston Lawrence is our primary legal advisor for the sale. The Taskforce has also asked Tim Russell from Deloitte Corporate Finance to be the overall sale advisor. Council is asked to ratify this choice and Tim will attend the Council Meeting on Friday 4 April to answer any questions about the services they will be providing and likely future process.
  8. Domainz Business Plan This was received and considered by Council and in a separate paper has been recommended to Council for approval.
  9. Letter to Registrants from DNC It appeared that the terms and conditions of Domainz may have been an obstacle to providing the DNC with a list of registrants whom could be written to, asking them to choose a Registrar. Domainz agreed to changes their terms and conditions to allow this information to be shared with the DNC and have done so.
  10. Communications The Executive Director was tasked to work with the DNC and Domainz CEO on a joint communications plan. This is underway.
  11. Domainz Marketing As the .nz Oversight Committee has now declared there to be a competitive market, the Taskforce has indicated to Domainz that it considers they are free to undertake any marketing activity it considers prudent and likely to increase value in DOMAINZ, as long as it doesn't conflict with the DNC letters to registrants.
  12. It is recommended that Council
    • Approve the report of the Taskforce
    • Approve the appointment of Deloitte Corporate Finance as the Sale Advisor

Part 2 of Report (Commercial in Confidence)

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