Minds + Machines Group Limited China Update (3224S)
25 June 2018 - 4:00PM
UK Regulatory
TIDMMMX
RNS Number : 3224S
Minds + Machines Group Limited
25 June 2018
For immediate release: 07.00 25 June 2018
Minds + Machines Group Limited
("MMX" or the "Company")
China update
Minds + Machines Group Limited (AIM: MMX), one of the world's
leading owners and operators of Internet Top-Level Domains
("gTLDs"), is delighted to announce that manual renewals for the
period March 1 to June 30, covering over 525,000 registered .vip
names that reached their annual renewal date in China during the
period, have already surpassed 75%. This figure is, the directors
believe, likely to increase as the rolling 45 day "at grace" period
that follows a registration's anniversary renewal date ends.
The renewal results place .vip in-line with the best-in-class
renewal rates of leading top-level domains globally and, the
directors believe, based on the data available, makes .vip the top
performing mass generic TLD in China, total registrations in .vip
now standing at 888,400.
Toby Hall, CEO of MMX, commented,
"The key metrics for our lead property in China continue to be
exceptional. Standard registrations in .vip, excluding bulk
registrations, are up 28% year-on-year, and the usage count - based
on the number of live .vip pages showing on China's main online
search engine - is up 19% year-on-year. Further, we are very
encouraged that the major technology groups in China are now
wanting to increasingly promote the extension, most notably Alibaba
and Tencent Cloud which has recently expanded its registrar
operations in the region. The BAT's, China's major technology
companies, increasingly see the provisioning of domain names as a
key way to bring SME's into their cloud based universes for the
delivery of services. As was the case last year, we anticipate
revenues from the region to be H2 weighted given the 2018
allocation of .vip premium inventory is only now being released,
post completion of its main renewal season. The H2 weighting of
Chinese revenues will be further accentuated by the timing of this
year's new property launches in China highlighted below."
New launches
The directors are separately pleased to report that on June 21,
. (.shopping) formally entered General Availability and that .law
is due to go on general sale in China before month-end. Both will
be marketed by in-country specialists as high-value domain names.
As a result, the directors do not anticipate significant
registration numbers from these two properties but do expect
meaningful revenue contributions from each over the course of the
following 12 months. The directors additionally look forward to
updating the market in the next eight weeks regarding the Company's
first innovation based project which will potentially be released
in the Asia region, at the same time as in the west, in H2.
Toby Hall added:
"Continuing to build our renewal revenues is central to our
business and it is extremely encouraging that .vip renewal rates
continue to be market leading. It provides strong cash flow and
recurring revenues from which we can further scale the business
with innovation and selective acquisition as exemplified with our
recent acquisiton of ICM Registry LLC."
-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:+44 (0) 020 7220
0500
Corporate finance - Stuart
Andrews/Carl Holmes/Simon
Hicks
Corporate broking - Tim
Redfern/ Richard Chambers
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 32 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. The Company also recently acquired the ICM
portfolio of four high value, niche TLDs. As a business, we work
through our expanding international network of registrars and
distribution partners to bring the benefits of affinity based
domain addresses and identifiers to B2B and consumer audiences. For
more information on MMX, please visit www.mmx.co
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END
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