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Minds + Machines Group Limited RNS Release

China licensing update, notice of interim results


RNS Number : 3613P
Minds + Machines Group Limited
31 August 2017
 

31 August 2017

 

Minds + Machines Group Limited

("mmx" or the "Company")

 

China licensing update and notice of interim results

 

Minds + Machines Group Limited (AIM: MMX), one of the world's leading owners and operators of Internet Top-Level Domains ("TLDs"), is pleased to provide the following China licensing update and notice of interim results.

 

Licensing update

In December 2016, .vip was the first of three foreign registries to receive central government MIIT approval (with .xyz and .club) allowing websites using the extensions to be hosted and function in China. In practical terms, for a website to operate in China, in addition to the central government approval for the TLD, the local regional communications department of the region where the domain owner is based must also recognise the TLD. To date, all of the regional departments - with the exception of Beijing - have followed MIIT's lead in allowing websites in MIIT approved TLDs to be recognised in their region.  Beijing has a population of circa 22 million, GDP of circa 2 trillion CNY and a rapidly developed start-up/SME business sector. On August 16, .vip was the first of three foreign registries (along with .shop and .ltd) to be recognised by the Beijing Communications Administration. .vip is the first top 10 new gTLD to gain this permission and as such provides the extension with a significant competitive advantage.

 

Management also believes this latest permission will further accelerate the transition of those domains originally bought by investors in 2016, before MIIT approval, into the hands of SMEs. Already China's leading search engine, Baidu.com, recognises over 705,000 individual .vip pages from 188,764 different .vip sites and the Company is aware of further initiatives that will directly contribute to this continued usage growth of the domain in the coming months.

 

From mid November 2017, the Company will also begin selling Chinese character (IDN) .vip names into the Chinese market.

 

Separately, the MIIT approval process continues to progress on track on up to a further eight TLDs in mmx's portfolio.

 

Notice of Interim Results

mmx will announce its unaudited interim results for the six months ended 30 June 2017 on Tuesday 26 September 2017. A meeting for analysts will be held at the offices of the Company's broker finnCap 60, New Broad Street, London, EC2M 1JJ at 10.30a.m. on the day. Analysts wishing to attend should contact Belvedere Communications on the details below.

 

The strategic reviews continues to progress according to the scheduled time-line with discussions ongoing with multiple parties. A further update will be provided in due course.

 

-ends-

 

For further information:

 

Minds + Machines Group Limited

 

Toby Hall, CEO

Tel: +44 (0) 7713 341072

Michael Salazar, COO/CFO

Tel: +1 (310) 740 7499

 

 

finnCap Ltd

Tel: 020 7220 0500

Corporate finance - Stuart Andrews/Carl Holmes/Simon Hicks

Corporate broking - Tim Redfern/Camille Gochez

 

 

 

Belvedere Communications Limited

Tel: +44 (0) 20 3567 0510

John West

Kim van Beeck

 

 

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

About MMX

Minds + Machines Group Limited (LSE: MMX) is the owner and operator of a world class portfolio of top-level domain assets (gTLDs). As a sales and marketing-led registry business, we are focused on commercializing our portfolio in partnership with our expanding global network of distribution partners.

 

The MMX portfolio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupations (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor activities (e.g..fishing, .garden, .horse) and generic names such as .work and .casa. As a business, we work through our expanding international network of registrars and distribution partners to bring the benefits of affinity based domain addresses to B2B and consumer audiences. For more information on MMX, please visit www.mmx.co


This information is provided by RNS
The company news service from the London Stock Exchange
 
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