Reglikedomain industry desk

Continues to Buy Dark Blue Sea Shares — Photon Group

Continues to Buy Dark Blue Sea Shares — Photon Group

Battle over Fabulous’ parent firm continues to escalate.

Dark Blue SeaPhoton Group Limited, which is trying to force out the Chairman of the Board of Dark Blue Sea and place two of its own on the board, continues to buy shares in Dark Blue Sea.

As stated by a regulatory filing (pdf), Photon has purchased nearly 1.8 million shares of Dark Blue Sea (DBS.AX) on the open market since the beginning of July. The biggest buyout was 1.227M shares on August 5 for 25 cents each. Photon’s heavy buying activity has caused Dark Blue Sea’s share price to almost double during the buying spree, sending prices up from just 14 cents at the beginning of July to 26 cents per share today.

Photon now controls 30.55% of votes in the firm.

Dark Blue Sea operates domain name registrar and parking provider Fabulous, as well as the Domain Distribution Network domain name sales platform.

Also on the wire

Other reporting from the domain desk.

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