Minds + Machines Group Limited Portfolio Update: .vip (3333H)
07 June 2017 - 4:00PM
UK Regulatory
TIDMMMX
RNS Number : 3333H
Minds + Machines Group Limited
07 June 2017
For immediate release: 07.00 7 June 2017
Minds + Machines Group Limited
("MMX" or the "Company")
Portfolio Update: .vip
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
its .vip domain in China will be significantly ahead of those
typically seen by new generic top-level domains in the region based
on the manual renewals already processed on the first month of .vip
registrations.
First year renewal rates are an important internal benchmark for
the Company. To date, actual deletions for the first 31 days of
registrations for .vip from China are currently less than 1%, with
manually confirmed renewals for the same period already at over
60%, with the remainder being placed on auto-renew by registrars on
behalf of their customers.
Whilst not all of those placed on auto-renew will be renewed,
MMX expects the overall renewal rate for the first month of .vip
registrations, which will be published in late July, to place .vip
in-line with the best-in-class renewal rates of leading western
facing top-level domains (i.e. c. 70% and above).
Toby Hall, CEO of MMX, commented,
"The .vip renewal rates from China, which have not been reliant
on aggressive discounting tactics, are testament to the inherent
value of the .vip extension and hard work of our retail
partners.
"This bodes well for our Chinese premium revenues in H2 as we
begin releasing our 2017 .vip premium inventory for the first time
to the broader market in Q3, traditionally the main domain
investment season in the region, on the back of .vip's
exceptionally strong renewal profile."
MMX is currently progressing a further eight extensions through
the MIIT (Chinese regulator) approval process for potential future
release in China.
-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 Tel: +1 (650) 515-8734
and Head of Technology,
Media & Telecom
finnCap Ltd Tel: +44 (0) 020 7220
0500
Corporate finance - Stuart
Andrews/Carl Holmes/Simon
Hicks
Corporate broking - Tim
Redfern/Camille Gochez
Belvedere Communications Tel: +44 (0) 20 3567
Limited 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
END
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