Minds + Machines Group Limited China premium sales update (4256Q)
12 September 2017 - 4:01PM
UK Regulatory
TIDMMMX
RNS Number : 4256Q
Minds + Machines Group Limited
12 September 2017
For release at: 07.00 on 12(th) September 2017
Minds + Machines Group Limited
("mmx" or the "Company")
China premium sales update
Minds + Machines Group Limited (AIM: MMX), one of the world's
leading owners and operators of Internet Top-Level Domains
("TLDs"), is pleased to announce that since the release of its 2017
premium inventory for China in late June 2017, premium sales in
excess of $3.4million have been achieved in .vip, of which
approximately $2.8million has closed in the last 10 days.
Toby Hall, CEO of MMX commented:
"We are building a strong, long-term, annuity based business
with each of our regions now contributing well to the renewal
revenue mix.
"The exceptional renewal rates achieved in China in H1 are, in
no small part, a direct result of the premium pricing policies
introduced at the launch of the .vip TLD. The significant interest
we are now experiencing in our 2017 premium inventory allocation
follows our recent Beijing approval and, we believe, lays down
further foundations for strong recurring revenues in subsequent
years from the region.
"These latest sales also mean we are making excellent progress
towards achieving management's top-line billing targets for China
for the current year, with more than 60% of our 2017 China premium
allocation now sold in recent weeks. These sales, along with the
launch of .boston in October, will however further accentuate the
H2 weighted nature of our business as we now enter the main renewal
seasons for our leading properties in Europe and the US."
Outside of China, management is encouraged by the interest now
being shown in its premium inventory in the UK and US following the
introduction of its revised premium pricing policies earlier this
year.
mmx will be announcing its unaudited interim results for the six
months ended 30 June 2017 on Tuesday 26 September 2017.
-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
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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