and Strategic Review | FE InvestEgate
26/07/2017
Minds + Machines Grp | Company Update: China and Strategic Review | FE InvestEgate
Minds + Machines Grp
Company Update: China and Strategic Review RNS Number : 0826M Minds + Machines Group Limited 26 July 2017
For immediate release: 07.00 26 July 2017 Minds + Machines Group Limited ("MMX" or the "Company") Company Update: China and Strategic Review Further to the announcement of 7 June 2017, Minds + Machines Group Limited (AIM: MMX), one of the world's leading owners and operators of Internet Top‐Level Domains ("gTLDs"), is pleased to announce that first year renewal rates for the first month of registra ons within its .vip domain in China have surpassed 75%, with over 317,000 registra ons renewed. This places .vip in‐line with the best‐in‐class renewal rates of leading established Western facing top‐level domains. Separately, MMX con nues to make good progress on securing MIIT (Chinese regulator) approval on up to a further eight extensions for poten al future release in China. Toby Hall, CEO of MMX, commented: "The successful launch of .vip, and associated one‐off premium sales revenue in H1 2016, played an integral part in MMX's turnaround last year. It is therefore encouraging to see those sales now transi on into meaningful first year renewals. This both validates our premium pricing model and demonstrates the underlying robustness of the Chinese domain market when appropriate roll‐out strategies are executed that are not reliant on aggressive discoun ng tac cs. "The strong renewal rates, as well as new registra ons that have grown by over 45% in H1, also bode well for our premium revenues from China in H2 as we now begin releasing our 2017 .vip premium inventory to the broader market for the first me, off the back of the published first year renewal rates. "However, whilst the holding back of material premium inventory in China, and no scheduled new domain launch in the period, will mean H1 2017 sales will not repeat the quantum of H1 2016, the quality and make‐up of the revenue is significantly improved. This gives the Board confidence that the Company is on track to achieve a key benchmark where recurring revenues https://www.investegate.co.uk/ArticlePrint.aspx?id=201707260700040826M
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26/07/2017
Minds + Machines Grp | Company Update: China and Strategic Review | FE InvestEgate
from renewals should be equal to or greater than fixed overheads ‐ earlier than an cipated, and within the current financial year. "The Board likewise looks forward to the wider ini a ves currently being implemented in the US and Europe, including the launch of .boston, impac ng in H2." Strategic Review and Publica on Date of Interims The strategic review is progressing well with discussions ongoing with a number of interested par es from Asia, North America and Europe. A further update on progress will be provided when the Company announces its results for the six months ended 30th June 2017 towards the end of September. A further announcement providing the exact date of the results will be made in due course. ‐ends‐ For further informa on: Minds + Machines Group Limited Toby Hall, CEO Tel: +44 (0) 7713 341072 Michael Salazar, COO/CFO Tel: +1 (310) 740 7499 finnCap Ltd Corporate finance ‐ Stuart Andrews/Carl Holmes/Simon Hicks Corporate broking ‐ Tim Redfern/ Richard Chambers Belvedere Communica ons Limited John West Kim van Beeck
Tel:+44 (0) 020 7220 0500
Tel: +44 (0) 20 3567 0510
The informa on communicated in this announcement contains inside informa on for the purposes of Ar cle 7 of the Market Abuse Regula on (EU) No. 596/2014 About MMX Minds + Machines Group Limited (LSE: MMX) is the owner and operator of a world class por olio of top‐level domain assets (gTLDs). As a sales and marke ng‐led registry business, we are focused on commercializing our por olio in partnership with our expanding global network of distribu on partners. The MMX por olio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupa ons (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor ac vi es (e.g..fishing, .garden, .horse) and generic names such as .work and .casa. As a business, we work through our expanding interna onal network of registrars and distribu on partners to bring the benefits of affinity based domain addresses to B2B and consumer audiences. For more informa on on MMX, please visit www.mmx.co
https://www.investegate.co.uk/ArticlePrint.aspx?id=201707260700040826M
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26/07/2017
Minds + Machines Grp | Company Update: China and Strategic Review | FE InvestEgate
This information is provided by RNS The company news service from the London Stock Exchange END UPDOKPDDCBKDAOB
https://www.investegate.co.uk/ArticlePrint.aspx?id=201707260700040826M
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Minds + Machines Grp | Company Update: China and Strategic Review | FE InvestEgate
Minds + Machines Grp
Company Update: China and Strategic Review RNS Number : 0826M Minds + Machines Group Limited 26 July 2017
For immediate release: 07.00 26 July 2017 Minds + Machines Group Limited ("MMX" or the "Company") Company Update: China and Strategic Review Further to the announcement of 7 June 2017, Minds + Machines Group Limited (AIM: MMX), one of the world's leading owners and operators of Internet Top‐Level Domains ("gTLDs"), is pleased to announce that first year renewal rates for the first month of registra ons within its .vip domain in China have surpassed 75%, with over 317,000 registra ons renewed. This places .vip in‐line with the best‐in‐class renewal rates of leading established Western facing top‐level domains. Separately, MMX con nues to make good progress on securing MIIT (Chinese regulator) approval on up to a further eight extensions for poten al future release in China. Toby Hall, CEO of MMX, commented: "The successful launch of .vip, and associated one‐off premium sales revenue in H1 2016, played an integral part in MMX's turnaround last year. It is therefore encouraging to see those sales now transi on into meaningful first year renewals. This both validates our premium pricing model and demonstrates the underlying robustness of the Chinese domain market when appropriate roll‐out strategies are executed that are not reliant on aggressive discoun ng tac cs. "The strong renewal rates, as well as new registra ons that have grown by over 45% in H1, also bode well for our premium revenues from China in H2 as we now begin releasing our 2017 .vip premium inventory to the broader market for the first me, off the back of the published first year renewal rates. "However, whilst the holding back of material premium inventory in China, and no scheduled new domain launch in the period, will mean H1 2017 sales will not repeat the quantum of H1 2016, the quality and make‐up of the revenue is significantly improved. This gives the Board confidence that the Company is on track to achieve a key benchmark where recurring revenues https://www.investegate.co.uk/ArticlePrint.aspx?id=201707260700040826M
1/3
26/07/2017
Minds + Machines Grp | Company Update: China and Strategic Review | FE InvestEgate
from renewals should be equal to or greater than fixed overheads ‐ earlier than an cipated, and within the current financial year. "The Board likewise looks forward to the wider ini a ves currently being implemented in the US and Europe, including the launch of .boston, impac ng in H2." Strategic Review and Publica on Date of Interims The strategic review is progressing well with discussions ongoing with a number of interested par es from Asia, North America and Europe. A further update on progress will be provided when the Company announces its results for the six months ended 30th June 2017 towards the end of September. A further announcement providing the exact date of the results will be made in due course. ‐ends‐ For further informa on: Minds + Machines Group Limited Toby Hall, CEO Tel: +44 (0) 7713 341072 Michael Salazar, COO/CFO Tel: +1 (310) 740 7499 finnCap Ltd Corporate finance ‐ Stuart Andrews/Carl Holmes/Simon Hicks Corporate broking ‐ Tim Redfern/ Richard Chambers Belvedere Communica ons Limited John West Kim van Beeck
Tel:+44 (0) 020 7220 0500
Tel: +44 (0) 20 3567 0510
The informa on communicated in this announcement contains inside informa on for the purposes of Ar cle 7 of the Market Abuse Regula on (EU) No. 596/2014 About MMX Minds + Machines Group Limited (LSE: MMX) is the owner and operator of a world class por olio of top‐level domain assets (gTLDs). As a sales and marke ng‐led registry business, we are focused on commercializing our por olio in partnership with our expanding global network of distribu on partners. The MMX por olio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupa ons (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor ac vi es (e.g..fishing, .garden, .horse) and generic names such as .work and .casa. As a business, we work through our expanding interna onal network of registrars and distribu on partners to bring the benefits of affinity based domain addresses to B2B and consumer audiences. For more informa on on MMX, please visit www.mmx.co
https://www.investegate.co.uk/ArticlePrint.aspx?id=201707260700040826M
2/3
26/07/2017
Minds + Machines Grp | Company Update: China and Strategic Review | FE InvestEgate
This information is provided by RNS The company news service from the London Stock Exchange END UPDOKPDDCBKDAOB
https://www.investegate.co.uk/ArticlePrint.aspx?id=201707260700040826M
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