Minds + Machines Group Limited Adviser Appointment and Strategic Review (1572G)
25 May 2017 - 4:00PM
UK Regulatory
TIDMMMX
RNS Number : 1572G
Minds + Machines Group Limited
25 May 2017
Strictly embargoed until: 07.00 25 May 2017
Minds + Machines Group Limited
("MMX" or the "Company")
Appointment of adviser - Initiation of Strategic Review
Minds + Machines Group Limited (AIM: MMX), one of the world's
leading owners and operators of Internet Top-Level Domains
("gTLDs"), announces that following a number of informal approaches
from external parties, the Board has appointed US investment
banking firm, Headwaters MB, to review the various strategic
options open to the Company to maximise value for shareholders.
MMX has been restructured successfully by the new management
team into a profitable business with an increasing recurring
revenue stream, a world class asset base, and one of the strongest
footprints in Asia following the launch of .VIP and the subsequent
MIIT approval in China.
During the last 18 months, the new generic top-level domain
market has experienced unprecedented growth and trading by the
Company has, and continues to, reflect this. Registrations are up
over 40% year to date. The sector remains highly fragmented and the
review will explore how strategic options might accelerate
shareholder value, in particular whether and how MMX can
participate in a broader industry consolidation. The outcome of the
strategic review may therefore include, but not be limited to, an
acquisition by or sale / merger of the Company.
The Company will make a further announcement to update
shareholders on progress of the strategic review when
appropriate.
MMX is incorporated and registered in the British Virgin Islands
and it is consequently not subject to the provisions of the UK City
Code on Takeovers and Mergers.
-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
Headwaters MB
Gary Moon, Managing Director and Tel: +1 (650)
Head of Technology, Media & Telecom 515-8734
finnCap Ltd Tel:+44 (0) 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
About Headwaters
Headwaters MB is an independent, middle market investment
banking firm providing strategic merger and acquisition advice,
capital raising and special situations advisory. Named "Investment
Bank of the Year" by major industry organizations for its third
year in a row, Headwaters MB is headquartered in Denver, CO, with
seven regional offices across the United States and partnerships
with 18 firms covering 30 countries. For more information, visit
www.headwatersmb.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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