Minds + Machines Group Limited China licensing update, notice of interim results (3613P)
31 August 2017 - 4:00PM
UK Regulatory
TIDMMMX
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
END
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